News On Japan
Business

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

PITTSBURGH, May 31 (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

News On Japan
POPULAR NEWS

Kagome Adapts to Ink Shortages

Kagome announced on May 14th that it will temporarily redesign several ketchup products by reducing printed packaging areas and adopting mostly transparent labels as worsening tensions in the Middle East continue to disrupt supplies of white ink and other petroleum-based packaging materials across Japan.

Bear Crashes Into ATM and Shatters Glass Door

Spring bear sightings are continuing across Japan, with wild bears increasingly appearing in residential neighborhoods and urban districts, including incidents involving damaged property and close encounters with residents.

16-Year-Old Arrested Over Fatal Robbery at Tochigi Home

A 16-year-old boy has been arrested on suspicion of robbery-murder after a group of intruders broke into a house in Kamimikawa Town, Tochigi Prefecture, on May 14th, killing a 69-year-old woman and injuring two other family members in what police suspect may have been a crime carried out by a loosely connected criminal group known as "Tokuryu."

Bluefin Tuna Prices Tumble on Record Haul

Bluefin tuna, now being caught in unusually large numbers around areas such as Sado Island in Niigata Prefecture, is becoming significantly more affordable, with some restaurant operators even saying it is cheaper than horse mackerel.

Is Japan Really Running Short of Naphtha?

The impact of Japan’s growing naphtha shortage is spreading across a widening range of industries, raising concerns about manufacturing, logistics, and even daily consumer life.

MEDIA CHANNELS
         
MORE Business NEWS

Hokkaido Rail Maintenance Could Cost 200,000 Yen Per Person Annually

JR Hokkaido is moving ahead with discussions over a so-called "vertical separation" system for railway lines the company says it can no longer maintain on its own.

Japanese Tanker Passes Through Strait of Hormuz Carrying 2 Million Barrels of Crude

ENEOS Holdings announced that a tanker operated by one of its group companies has successfully passed through the Strait of Hormuz in the Middle East.

Aichi Banking Group Emerges as $70 Billion Giant

Aichi Financial Group, which owns Aichi Bank, and Mie Prefecture-based Sanjusan Financial Group announced that they have reached a basic agreement toward a management integration.

Nissan Reports Another Massive Loss

Nissan Motor announced its financial results for the year through March 2026 on May 14th, reporting a net loss for the second consecutive year as the company continues efforts to rebuild its business.

Japanese Bookbinding Technology Captures World Markets

Despite a prolonged downturn in the publishing industry, a bookbinding machine manufacturer based near Lake Biwa has continued to expand globally by adapting to a major shift in the way books are produced.

Is Japan Really Running Short of Naphtha?

The impact of Japan’s growing naphtha shortage is spreading across a widening range of industries, raising concerns about manufacturing, logistics, and even daily consumer life.

Japanese Food Companies Strip Down Packaging to Save Ink

The “ink shock” caused by tensions in the Middle East is beginning to spread across Japan’s food packaging industry, prompting manufacturers to simplify designs and reduce ink usage as concerns grow over naphtha supplies and rising printing costs.

Japan’s Long-Term Interest Rates Rise to 2.6%, Highest in 29 Years

The yield on Japan’s benchmark newly issued 10-year government bond rose to 2.60% in the Tokyo bond market on May 13th, marking its highest level in approximately 29 years since June 1997.