Trump announces 25% increase in aluminum, steel tariffs, to 50%
US president says tariff increase 'will even further secure the steel industry in the United States'
HAMILTON, Canada
US President Donald Trump announced a major increase on Friday in tariffs on steel and aluminum imports, doubling the rate from 25% to 50%, in what he described as a move to further protect American industry.
"Today, I have a major announcement," Trump said during a rally at a US Steel facility in Pittsburgh, Pennsylvania.
Trump doubles tariffs on steel imports to 50%
🗣� 'Nobody's going to get around that' — Trump says move will further secure US steel industry
📍 Announcement made at US Steel facility in Pittsburgh https://t.co/19qP4Iqh7e
"We are going to be imposing a 25% increase. 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 argued that the increase would close gaps that foreign competitors have used to bypass previous tariffs.
"So, we're bringing it up from 25%, we're doubling it to 50% and that's a loophole," he added.
Addressing investors in the US steel sector, Trump said: "At 25%, they can sort of get over that fence. At 50%, they can no longer get over the fence, so congratulations to everybody, and to you, for making a great deal."
"I said the tariff to me is the most beautiful word in the dictionary," Trump added.
