At a recent rally in Pennsylvania, Donald Trump announced plans to double tariffs on imported steel from 25% to 50% as part of his strategy to bolster the U.S. steel industry and intensify trade conflicts with countries like China and those in the EU. Furthermore, he announced a similar increase for aluminum tariffs. The announcement coincided with discussions about a pending investment deal involving Japan's Nippon Steel, which is looking to increase its presence in the American steel market. Trump indicated he still needed to review the final details of this deal.
"I have to approve the final agreement with Nippon and we haven't seen the final agreement yet, but they've made a very big commitment and it's a very big investment."
"We are here today to celebrate an extraordinary deal that will ensure that this historic American company continues to thrive and create jobs."
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