Trump says that he will double the steel tariffs

President Donald Trump said on Friday that he was planning to double steel tariffs to 50%.

Speech to the US Steel’s (X) Irvin works at West Mifflin, PA.

From March 12, 25% of steel import tariffs They were in place. The US imports about 25 million tons of steel per year, which is 23% of all Steel used in the country. Canada, Mexico, Brazil and South Korea Sending the most steel to the USA

Asset gave green light Last week to “Partnership” between US Steel and Nippon Steel. US Stel shares increased by 40% since Trump last month Ordered a review The acquisition offer proposed by Nippon Steel.

Friday’s annuality occurred after a lot of legal actions in matters that He questioned some Trump tariffs. The court initially blocked the decision, but the administration received relief, while further appeals act by the court. The block would not follow the steel tariffs.

In the first term of Trump, he applied a 25% tariff to steel. Trump said that the tariffs would give us steel feet producers and prevent the loss of jobs in the industry. Economists and researchers have found that these tariffs had Mixed impact on workBecause steel companies employed more employees, but Steel companies employed fewer people.