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.
Türkiye and Azerbaijan are deepening defense ties with two major joint military drills in Nakhchivan this June, aiming to strengthen strategic cooperation and regional readiness.
European foreign ministers agreed to increase pressure on Russia by imposing new sanctions targeting its energy and banking sectors amid ongoing conflict with Ukraine.
As G7 leaders prepare to meet, most member states are ready to cut the Russian oil price cap to $45 even without U.S. backing.
NVIDIA unveiled plans on Wednesday to build the world’s first industrial AI cloud in Germany, aiming to revolutionize European manufacturing with a 10,000-GPU facility and partnerships with industry leaders like BMW, Siemens, and Mercedes-Benz.
Azerbaijan is advancing its green energy agenda, with bold targets and regional projects discussed at the IEA’s global energy efficiency conference.
Türkiye and Azerbaijan are deepening defense ties with two major joint military drills in Nakhchivan this June, aiming to strengthen strategic cooperation and regional readiness.
European foreign ministers agreed to increase pressure on Russia by imposing new sanctions targeting its energy and banking sectors amid ongoing conflict with Ukraine.
As G7 leaders prepare to meet, most member states are ready to cut the Russian oil price cap to $45 even without U.S. backing.
NVIDIA unveiled plans on Wednesday to build the world’s first industrial AI cloud in Germany, aiming to revolutionize European manufacturing with a 10,000-GPU facility and partnerships with industry leaders like BMW, Siemens, and Mercedes-Benz.
Azerbaijan is advancing its green energy agenda, with bold targets and regional projects discussed at the IEA’s global energy efficiency conference.
Start your day informed with AnewZ Morning Brief: here are the top news stories for June 8th, covering the latest developments you need to know.
Presidential candidate Miguel Uribe Turbay is in critical condition after being shot three times — including twice in the head — during a campaign event in Bogotá.
Kazakhstan and the UK are strengthening defense ties with a new Military Cooperation Plan, focusing on peacekeeping and military education.
A 30-year-old woman was shot by police in Munich on Saturday evening after stabbing two people at Theresienwiese, a central park best known for hosting Oktoberfest.
Mexican President Claudia Sheinbaum has condemned U.S. immigration raids and National Guard deployment in Los Angeles, calling for reforms instead of enforcement.
US producer prices rose 2.6% annually in May, matching market expectations, with a modest 0.1% increase from April, the US Bureau of Labor Statistics reported.
The European Commission confirmed on Thursday it will postpone the implementation of new international banking regulations by a year, citing concerns over global alignment and competitiveness.
The euro surged to its highest level in nearly four years against the U.S. dollar, as global investors turned to safe-haven assets amid growing geopolitical tensions and uncertainty surrounding the U.S.-China trade deal.
The U.S. Energy Information Administration (EIA) has slightly increased its forecast for Brent crude oil prices in 2025, despite expectations of growing global stockpiles.
South Korea's main stock index, the Korea Composite Stock Price Index (KOSPI), rose by 35.19 points, or 1.23%, on Wednesday, closing at 2,907.04. This marks its highest closing level since 14 January, 2022, when it reached 2,921.92 points.
Türkiye and Azerbaijan are deepening defense ties with two major joint military drills in Nakhchivan this June, aiming to strengthen strategic cooperation and regional readiness.
European foreign ministers agreed to increase pressure on Russia by imposing new sanctions targeting its energy and banking sectors amid ongoing conflict with Ukraine.
As G7 leaders prepare to meet, most member states are ready to cut the Russian oil price cap to $45 even without U.S. backing.
NVIDIA unveiled plans on Wednesday to build the world’s first industrial AI cloud in Germany, aiming to revolutionize European manufacturing with a 10,000-GPU facility and partnerships with industry leaders like BMW, Siemens, and Mercedes-Benz.
Azerbaijan is advancing its green energy agenda, with bold targets and regional projects discussed at the IEA’s global energy efficiency conference.
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