> Trump to double steel and aluminum tariffs to 50 percent - Olomo TIMES

Trump to double steel and aluminum tariffs to 50 percent

U.S. President Donald Trump announced Friday that steel and aluminum import tariffs will double to 50% starting Wednesday, June 4, in the latest effort to protect American industry through aggressive trade policies.

Speaking at a U.S. Steel plant in Pennsylvania—a key swing state—Trump told workers, “We’re going to bring it from 25 percent to 50 percent… Nobody’s going to get around that.” He later confirmed via Truth Social that aluminum would be subject to the same increase.

The new tariffs come amid legal challenges, with a lower court earlier in the week ruling that Trump may have exceeded his authority. However, an appellate court allowed the tariffs to remain in place during ongoing litigation.

Trump has made trade protectionism a cornerstone of his policy since returning to office in January, targeting both adversaries and allies with broad tariffs and sector-specific levies, including on automobiles.

U.S. Steel-Nippon Deal Raises Eyebrows

Trump also discussed a planned partnership between U.S. Steel and Japan’s Nippon Steel—a $14.9 billion deal previously blocked by former President Joe Biden over national security concerns. Despite earlier campaign opposition to foreign ownership, Trump indicated openness to the partnership if key conditions are met.

“U.S. Steel will continue to be controlled by the USA,” Trump said, promising no layoffs or outsourcing. He highlighted Nippon’s proposed $2.2 billion investment in the Mon Valley Works-Irvin plant, with an additional $7 billion earmarked for upgrades across steel mills, ore mining, and facilities in Indiana and Minnesota.

However, he clarified upon returning to Washington that he has not yet approved the final agreement, saying, “They’ve made a very big commitment,” but the deal still requires his review.

Trump also claimed the partnership would create at least 70,000 jobs and generate $14 billion in economic value.

Union Response and Political Tensions

The United Steelworkers union (USW), which represents thousands of U.S. Steel employees, voiced concern over the proposed deal, stating it was not consulted or involved in discussions. USW President David McCall said the union remains cautious, emphasizing concerns over national security, worker impact, and community stability.

“The devil is always in the details,” McCall said, warning against the merger of U.S. Steel with a foreign competitor.

While Trump’s comments suggest a shift from his earlier opposition to Nippon Steel’s involvement, the future of the partnership—and its political and economic implications—remains uncertain.

No comments

Thanks for viewing, your comments are appreciated.

Disclaimer: Comments on this blog are NOT posted by Olomo TIMES, Readers are SOLELY responsible for their comments.

Need to contact us for gossips, news reports, adverts or anything?
Email us on; olomoinfo@gmail.com

Powered by Blogger.