President of the United States (US) announced with “great honour” that his administration has raised tariffs on steel and aluminium from 25% to 50%.
The US President said, the new tariffs will take effect from Wednesday 4 June.
Trump made the move to encourage local production of steel and aluminium, saying, “our steel and aluminum industries are coming back like never before.”
Posting on Truth Social, President Trump said: “We don’t want America’s future to be built with shoddy steel from Shanghai—we want it built with the strength and the pride of Pittsburgh!”
He tagged this latest development in the steel and aluminium industry of America as a “big jolt of great news for our wonderful steel and aluminum workers.”
Announcing on Truth Social, President Trump said: “It is my great honor to raise the Tariffs on steel and aluminum from 25% to 50%, effective Wednesday, June 4th. Our steel and aluminum industries are coming back like never before. This will be yet another BIG jolt of great news for our wonderful steel and aluminum workers. MAKE AMERICA GREAT AGAIN!”
Trump announced the higher tariffs just outside Pittsburgh, where he was talking up a deal between Nippon Steel (5401.T), opens new tab and U.S. Steel (X.N), opens new tab. Trump said the $14.9 billion deal, like the tariff increase, will help retain jobs for steel workers in the United States (US).
