President Trump has dramatically increased tariffs on foreign steel and aluminum imports to 50%, a move he claims will bolster American industries. At a US Steel plant event in Pennsylvania, Trump framed this decision as a significant win for American workers. He also embraced the acquisition of US Steel by Nippon Steel, previously criticized by him. This dual announcement follows a legal endorsement for the tariffs, citing national security. Trump also promised workers bonuses, characterizing the region's steel industry as revitalizing, while blaming past policies for its decline.
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.
We're here today to celebrate a blockbuster agreement that will ensure this storied American company stays an American company... This will be yet another BIG jolt of great news for our wonderful steel and aluminum workers.
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