President Donald Trump announced Friday that he will double tariffs on steel imports from 25% to 50%, intensifying efforts to protect the U.S. steel industry.
Speaking at a U.S. Steel plant in Pennsylvania, Trump praised the newly approved $13 billion partnership between U.S. Steel and Japan’s Nippon Steel, calling it a “blockbuster deal” that keeps the company American while attracting foreign investment.
Trump’s move builds on earlier tariffs imposed in 2018 and aims to secure blue-collar jobs in key Rust Belt states. Steel industry employment and production have grown modestly since the tariffs began. However, critics like the U.S. Chamber of Commerce warn that higher tariffs may raise manufacturing costs and hurt downstream industries.
Trump also promised no layoffs and a $5,000 bonus for steelworkers, positioning the policy as a core pillar of his 2024 campaign’s economic agenda.
