Online Reporter
President Donald Trump announced Friday that he would set tariffs on steel imported into the United States at 50 percent, double their current rate.
At a US Steel facility in West Mifflin, Pennsylvania, Trump said he had a “major announcement.” To an applauding crowd of US Steel employees, Trump said he would jack up the tariff to protect America’s steelworkers.
“We are going to be imposing a 25 percent increase,” Trump said. “We’re going to bring it from 25 percent to 50 percent, the tariffs on steel into the United States, which will even further secure the steel industry in the United States. Nobody’s going to get around that.”
Trump said he was considering a 40 percent tariff, but industry executives told him they wanted a 50 percent tariff.
“At 25 percent they can sorta get over that fence,” Trump said. “At 50 percent nobody’s getting over that fence.”
He later posted on social media that the higher tariff rate would take effect on Wednesday, June 4th.
“It is my great honour to raise the tariffs on steel and aluminium from 25 percent to 50 percent, effective Wednesday, June 4th. Our steel and aluminium industries are coming back like never before. This will be yet another BIG jolt of great news for our wonderful steel and aluminium workers. MAKE AMERICA GREAT AGAIN!” Trump wrote on his Truth Social platform.
Trump on March 12 imposed sweeping 25 percent tariffs on all steel and aluminium imports, which were met with immediate retaliation from Canada and dismay from America’s auto industry. The European Union also lashed out and announced retaliatory tariffs that it ultimately rescinded.
Trump on Friday praised his tariffs for saving the US steel industry, claiming American steelmaking would have disappeared if he hadn’t acted to impose tariffs. — CNN
