Trump tarifs: US President Donald Trump announced on Friday that he would double tariffs on steel and aluminum. After doubled, the tariff on both these metals will increase from 25 per cent to 50 per cent and according to Trump’s announcement, the big rates will be effective from next week. The US President said this while addressing the workers at a steel plant in Pennsylvania, USA. In front of the blue caller workers at the steel plant, he announced to double the tariff on steel, but shortly after, he announced to put tariffs from June 4 on aluminum on social media platform Truth social.
Partnership with Japan’s steel company but control America
On Friday, Trump also spoke of partnership under the plan fixed between US Steel and Japan’s Nippon Steel, but also revealed something new on the deal. He insisted that despite the recent partnership between American steel manufacturer and Nippon Steel, US Steel will remain in control of US Steel. However, the deal has not been approved yet. Trump said that the job outsourcing of the company will not get anyone’s job. He said that the deal with the nippon would generate at least 70,000 jobs and the US economy will increase by $ 1400 million.
What is US STEEL and Nippon Steel deal, Trump protested earlier
Trump, who is currently talking about the deal of US Steel and Nipple Steel, opposed it during the presidential election. However, as soon as he became President, his tone changed and said that he was in favor of investment in some form. Trump said in Pennsylvania that under the scheme, Nipan would invest $ 2.2 billion to increase steel production at the American plant. Apart from this, steel mills will be new from $ 7 billion, mining of ores will be increased and facilities will be prepared. Let us tell you that Nippon Steel faced opposition from both the big political parties of America Republican and Democrats on the proposal of US Steel for about $ 1490 crore and the then President Joe Biden stopped the deal on national security basis shortly before leaving the post. US President Trump said that US Steel will remain American and will remain in Pittsburgh.
