US Imposes 50% Tariffs on Steel Imports, Trump Announces in Pennsylvania

US Raises Steel Tariffs to 50%

Former President Donald Trump announced the US will double its current tariff rate on steel imports, increasing it from 25% to 50%. The announcement was made at a rally in Pittsburgh, Pennsylvania.

Boosting Domestic Steel

Trump stated the move aims to boost the local steel industry and the national output, while decreasing reliance on China.

$14 Billion Investment

Trump also mentioned a $14 billion investment in the area's steel production through a partnership between US Steel and Japan's Nippon Steel. Details on the partnership are still emerging.

Trump's Tariff Approach

The announcement reflects the latest development in Trump's approach to tariffs since re-entering office in January.