US President Donald Trump on Friday told Pennsylvania steelworkers he's doubling the tariff on steel imports to 50 per cent to protect their industry. This dramatic increase could further push up prices for metals used to make housing, automobiles, and other goods. In a post later on his Truth Social platform, he added that aluminium tariffs would also be doubled to 50 per cent, and both tariff hikes would go into effect on Wednesday.
Trump spoke at US Steel's Mon Valley Works–Irvin plant in suburban Pittsburgh, where he also discussed a details-to-come deal under which Japan's Nippon Steel will invest in the iconic American steelmaker.
Though Trump initially vowed to block the Japanese steelmaker's bid to buy Pittsburgh-based US Steel, he reversed course and announced an agreement last week for what he described as “partial ownership” by Nippon.
It's unclear, though, if the deal his administration helped broker has been finalised or how ownership would be structured.
“We're here today to celebrate a blockbuster agreement that will ensure this storied American company stays an American company,” Trump said as he opened an event at one of US Steel's warehouses.
“You're going to stay an American company, you know that, right?”
As for the tariffs, Trump said doubling the levies on imported steel “will even further secure the steel industry in the US".
But such a dramatic increase could push prices even higher. Steel prices have climbed 16 per cent since Trump became president in mid-January, according to the government's Producer Price Index.
As of March 2025, steel cost USD 984 a metric tonne in the United States, significantly more than the price in Europe (USD 690) or China (USD 392), according to the US Commerce Department.
The United States produced about three times more steel than it imported last year, with Canada, Brazil, Mexico and South Korea being the largest sources of steel imports.
(With inputs from AP)
