President Donald Trump announced his plan to double tariffs on steel imports to 50% while speaking at a rally at U.S. Steel's Irvin Works plant in West Mifflin, Pennsylvania, on Friday (May 30).
“We’re going to bring it from 25% to 50%, the tariffs on steel into the United States of America,” Trump said via NBC News.
The president's U.S. Steel came after indicating that he would clear a controversial merger with Japan's Nippon, which he described as a "partnership" and confirmed that the company's headquarters would remain in Allegheny County in a Truth Social post shared on May 23.
"I am proud to announce that, after much consideration and negotiation, US Steel will REMAIN in America, and keep its Headquarters in the Great City of Pittsburgh," Trump wrote at the time. "For many years, the name, 'United States Steel' was synonymous with Greatness, and now, it will be again. This will be a planned partnership between United States Steel and Nippon Steel, which will create at least 70,000 jobs, and add $14 Billion Dollars to the U.S. Economy. The bulk of that Investment will occur in the next 14 months. This is the largest Investment in the History of the Commonwealth of Pennsylvania. My Tariff Policies will ensure that Steel will once again be, forever, MADE IN AMERICA. From Pennsylvania to Arkansas, and from Minnesota to Indiana, AMERICAN MADE is BACK. I will see you all at US Steel, in Pittsburgh, on Friday, May 30th, for a BIG Rally. CONGRATULATIONS TO ALL!"
President Joe Biden had previously blocked Nippon Steel's purchase of U.S. Steel for $14.9 billion in January.
“We need major U.S. companies representing the major share of US steelmaking capacity to keep leading the fight on behalf of America’s national interests,” Biden said in a statement obtained by the Associated Press at the time.
Trump, however, ordered a new review of the former proposed deal in April, giving directions to the Committee on Foreign Investment in the United States to decide "whether further action in this matter may be appropriate."