President Donald Trump announced Friday that he would set tariffs on steel imported into the United States at 50%, double their current rate.
At a US Steel facility in West Mifflin, Pennsylvania, Trump said he had a “major announcement.” To an applauding crowd of US Steel employees, Trump said he would jack up the tariff to protect America’s steelworkers.
“We are going to be imposing a 25% increase,” Trump said. “We’re going to bring it from 25% to 50%, the tariffs on steel into the United States of America, which will even further secure the steel industry in the United States. Nobody’s going to get around that.”
Trump said he was considering a 40% tariff, but industry executives told him they wanted a 50% tariff.
“At 25% they can sorta get over that fence,” Trump said. “At 50% nobody’s getting over that fence.”
He later posted on social media that the higher tariff rate would take effect on Wednesday, June 4th.
“It is my great honor to raise the Tariffs on steel and aluminum from 25% to 50%, effective Wednesday, June 4th. Our steel and aluminum industries are coming back like never before. This will be yet another BIG jolt of great news for our wonderful steel and aluminum workers. MAKE AMERICA GREAT AGAIN!” Trump wrote on his Truth Social platform.
Read the full report on CNN.
