We will raise the tariffs on steel from 25 percent to 50 percent in the USA, which will further secure the steel industry, he says.
The announcement came during a speech to staff at US Steel in the state of Pennsylvania, where Trump also spoke about a "partnership" between the American steel company and Japanese Nippon Steel.
Earlier, Nippon Steel was stopped from carrying out the controversial acquisition of US Steel, citing national security interests, by both President Joe Biden and Donald Trump. But last week, Trump wrote on his own platform Truth Social about an upcoming "partnership" between the companies.
We are here today to celebrate a great deal that will ensure that this venerable American company remains an American company, Trump said on Friday.
Few details about the deal have been disclosed, but according to both the White House and Nippon Steel, it involves investments worth 14 billion dollars. Trump has also said that US Steel will not move its headquarters from Pittsburgh in Pennsylvania.
The White House writes on X that the new tariff levels will come into effect next week.
