US President Donald Trump on Friday said his administration will increase tariffs on steel to 50% from 25%. Speaking at the US Steel’s Mon Valley Works–Irvin plant in suburban Pittsburgh, Trump said that the higher tariff on steel will secure the steel industry in the United States.
“We are going to be imposing a 25% increase. We’re going to bring it from 25% to 50%—the tariffs on steel into the United States of America, which will even further secure the steel industry in the United States,” Trump said.
Later, in a post on his social media platform Truth Social, Trump said that tariffs on steel and aluminium would increase from 25% to 50%, effective Wednesday, 4 June.
“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 said on his social media platform Truth Social.
Earlier on February 11, Trump increased tariffs on steel and aluminium to 25% from 10%.
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