Trump Doubles Tariffs While Calling Nippon Steel’s $14 Billion US Deal Historic

May 31, 2025 | News On Japan

PITTSBURGH, May 31, 2025 (News On Japan) - U.S. President Donald Trump announced on May 30th that his administration plans to double the current tariffs on imported steel and aluminum to 50 percent. Speaking at a plant owned by major American steelmaker U.S. Steel, Trump declared that the existing 25 percent tariff on steel imports would be raised to 50 percent starting June 4th. The same rate will also apply to aluminum products, with the measure expected to affect exporters globally.

Trump framed the move as a step to further strengthen American industry and reduce reliance on foreign metal supplies. He also touched on the planned acquisition of U.S. Steel by Japan’s Nippon Steel, saying the U.S. firm would remain an American company. At the same time, he praised the 14 billion dollar (approximately 2 trillion yen) investment by Nippon Steel as the largest in the history of the American steel sector.

Source: テレ東BIZ

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