US EditionTrump tells US steelworkers he’s going to double tariffs on foreign steel from 25% to 50%
- President Donald Trump announced on May 30, 2025, at a U.S. Steel plant in West Mifflin, Pennsylvania, that he will double tariffs on imported steel and aluminum to 50% effective June 4.
- Trump initially imposed 25% steel and 10% aluminum tariffs in 2018 under Section 232 for national security reasons, with some debate about their economic impact and legal challenges affecting subsequent tariff policies.
- Trump also discussed a deal where Japan's Nippon Steel will acquire a controlling stake in U.S. Steel, reversing his earlier opposition and emphasizing that American control and jobs will be protected.
- Steel prices in the U.S. Rose about 16% since Trump's presidency began, reaching $984 per metric ton in March 2025, while Nippon Steel committed $14 billion in U.S. Investments to modernize plants and increase production.
- The tariff increase aims to strengthen U.S. Steel and aluminum industries, but critics warn it may raise prices and disrupt trade, with Canadian officials opposing the measure and some union workers having mixed views on the Nippon deal.
206 Articles
206 Articles
Dow futures dip as Wall Street weighs likelihood of Trump's latest tariff threat, while U.S. eyes call to resolve China trade snag
The so-called TACO trade will be tested as market respond to President Donald Trump’s announcement on Friday night that he will double steel tariffs to 50%. Meanwhile, administration officials sounded upbeat that the Trump and President Xi Jinping could sort out snags in U.S.-China trade talks. Stocks pointed slightly lower Sunday night after President Donald Trump reignited trade war fears by doubling down on steel tariffs on Friday. The so-cal…
Metro's violent offenders ban goes into effect
This is CNBC’s live blog covering Asia-Pacific markets. Asia-Pacific markets were mostly lower after President Donald Trump told U.S. steelworkers late Friday that he will double tariffs on steel imports to 50%, effective from Wednesday. Japan’s benchmark Nikkei 225 fell 1.33% and the Topix declined 0.99%. South Korea’s Kospi slipped 0.22% while the small-cap Kosdaq rose 0.68% ahead of the country’s presidential election on June 3. Australia’s S…
Trump Ups Metals Tariff to 50% to Aid Nippon-US Steel
Good morning. Steel and aluminum are set to face a 50% US tariff starting Wednesday. Australia homes are getting even more expensive. And next time you travel to Kyoto, make sure you go beyond the trends. Listen to the day’s top stories.
Trump to double steel tariffs
WEST MIFFLIN, Pa. — President Donald Trump on Friday told Pennsylvania steelworkers he’s doubling the tariff on steel imports to 50 percent to protect their industry, a dramatic increase that could further push up prices for a metal used to make housing, autos and other goods. Read more...
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