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.
Elon Musk was not on the ballot in Tuesday’s U.S. midterm elections, but he emerged as one of the biggest losers after Democrats swept to vic...
Uzbekistan has launched 145 investment projects worth $7.8 billion in its Bukhara region, aiming to create more than 14,000 jobs, boost industrial ...
Kazakhstan plans to manufacture 494 types of medicines through eight major investment projects worth a combined $862 million, Health Minister Akmar...
Democrat wins surged on Tuesday across the United States with stunning victories in the South Carolina, Texas and Ohio senate races -- traditionally Republican strongholds -- in the 3 November midterm elections.
From international reporting and investigative documentaries to global forums and digital innovation, AnewZ marks two years of connecting Azerbaijan and the wider world.
Democrats captured majorities in both chambers of Congress on Tuesday, scoring sweeping victories that reached into Republican strongholds, with millions of voters delivering a strong rebuke to President Donald Trump.
U.S. President Donald Trump says Washington will end its annual financial and military aid to Israel by the end of 2026, under an agreement he claims to have reached with Israeli Prime Minister Benjamin Netanyahu.
Iranian parliament speaker Mohammad Bagher Ghalibaf says the U.S. must act to prevent war after Tehran sent a “strong and rational response” to Washington. Meanwhile, U.S. forces have reportedly carried out limited strikes against Iranian targets, including Qeshm Island,
Seven OPEC+ countries agreed on Sunday, 1 November, to keep oil production targets unchanged for December, extending an earlier freeze. But with the Iran war disrupting supplies and prices fluctuating, what is really driving the global oil market?
Cryptocurrencies are volatile, and their crashes make headlines. But does a slump in digital coins ever spill over into the pounds, dollars and euros in people's bank accounts? The short answer is not directly, but indirectly it can, and regulators are increasingly worried about how.
Russian President Vladimir Putin has praised record trade with Egypt as Moscow seeks to use its economic ties with Cairo to expand its influence across Africa, with a focus on manufacturing, infrastructure and energy.
Kazakhstan could begin building its first nuclear power plant in 2027, President Kassym-Jomart Tokayev said on 28 October, according to Azertac. But as Central Asia steps up its energy ambitions, which countries are investing in nuclear power and which are pursuing alternatives?
Apple's latest iPhone 18 Pro series has outperformed its predecessor in early global sales, even as rising manufacturing costs and weaker demand in some markets put pressure on the smartphone industry, according to Counterpoint Research data released on Tuesday (27 October).
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment