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Türkiye’s first floating gas platform arrives at Black Sea port
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Trump to double steel tariffs to 50%
Reuters
President Donald Trump announced that he will increase steel tariffs from 25% to 50%, a move that could push up costs for industries relying on steel, including housing and auto manufacturing.
Speaking at the U.S. Steel Mon Valley Works–Irvin Plant in West Mifflin, Pennsylvania, Trump said the move aims to better protect American steel producers.
“Today, I have a major announcement,” he said. “We’re doubling the tariffs on steel to 50%, which will secure the US steel industry. Nobody will be able to get around that.”
He explained the higher tariff will close loopholes that allowed foreign competitors to bypass the previous 25% tariff. “At 25%, they could get over the fence. At 50%, they can no longer get over,” he added, praising the steel sector’s investors and workers.
“I said the tariff is the most beautiful word in the dictionary.”
Trump made the announcement while highlighting new investments from Japan’s Nippon Steel. He spoke about job losses in Pittsburgh’s iron and steel mills and how the US had relied on China for tanks, boats, and ships.
“A strong steel industry is not just about dignity, prosperity, or pride,” he said. “Above all, it’s a matter of national security.” He added that the higher tariffs will help protect US steel jobs and strengthen the country’s defense.
Since Trump took office, steel prices have already risen about 16%, according to government data on producer prices. This tariff hike is expected to put further pressure on steel-related sectors.
Onstage with current and former Steelers players, Trump received a personalized Steelers jersey and joked about the team’s quarterback situation, sparking cheers from the crowd.
He praised Nippon Steel’s $14.9 billion bid to buy U.S. Steel — a deal initially blocked by President Biden on national security grounds but now backed locally. Trump assured workers there would be no layoffs, all plants would stay open, and every steelworker would get a $5,000 bonus.
“Blast furnaces will run at full capacity for at least 10 years,” he said, promising stability and strength for the steel industry and its workers.
The president wrapped up his speech by saluting steelworkers for their vital role in building America’s military and cities. “With patriots like you, we’ll produce our own metal, unleash our own energy, and secure our future,” he promised.
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German Chancellor Merz to visit Trump next week
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Iran’s foreign minister warns IAEA chief in phone call ahead of board meeting
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