Trump Slaps 50% Steel Tariff in Surprise Major Announcement’ [Video]

• President Trump doubled steel import tariffs to 50% from 25% at a US Steel (X) facility to bolster the domestic steel industry.
• In 2024, U.S. steel imports reached 28,858,000 net tons, valued at $32.99 billion, with foreign steel holding a 23% market share.
• The tariff hike, following 2018’s 25% tariffs, may raise costs for U.S. industries and strain trade relations with partners like Canada.

President Donald Trump, speaking at a U.S. Steel (X) facility in West Mifflin, Pennsylvania, announced Friday a major escalation in trade policy, declaring that tariffs on steel imports to the United States would double from 25% to 50%. The decision, revealed to an enthusiastic crowd of US Steel employees, aims to bolster the domestic steel industry by making foreign steel less competitive. Trump emphasized the necessity of the increase, stating that the existing 25% tariff allowed some foreign producers to remain viable in the U.S. market, …