Trump doubles down on tariffs for one specific product as he issues new China threat
The cost of key building materials, especially steel, has increased by about 16% since Trump became president. Recently, Trump announced plans to double the tariffs on imported steel and aluminum from 25% to 50%, citing China’s alleged breach of a 90-day trade truce. He shared on Truth Social that China had failed to remove non-tariff barriers on US goods, violating their agreement. During a visit to the Mon Valley Works-Irvin Plant in Pennsylvania, Trump told steelworkers that the higher tariffs would better protect American steelmakers, ensuring no one can “steal” the industry’s jobs.
While addressing the crowd, Trump also discussed the fate of US Steel, saying it would remain an American company even though Japan-based Nippon was investing in it. Initially, he opposed the deal, but he reversed his stance and announced an agreement for Nippon to take partial ownership. Details of this deal remain unclear, but Trump assured workers that US Steel would continue to be American. The higher tariffs and Nippon’s investment are part of Trump’s effort to bolster domestic manufacturing and steel production.
