Trump says he plans to double steel tariffs to 50%

The Manila Times

Trump says he plans to double steel tariffs to 50%  US President Donald Trump on May 30, 2025 says he plans to increase tariffs on foreign imports of steel from 25 percent to 50 percent, ratcheting up pressure on global steel producers and vowing to deepen his trade war. In February Trump raised steel and aluminum tariffs to a flat 25 percent "without exceptions or exemptions" in one of his first moves to aid the struggling industries. The tariffs will apply to millions of tons of steel and aluminum imports from Canada, Brazil, Mexico, South Korea and other countries that had been entering the US duty free.  US NETWORK POOL / REUTERS  Subscribe to The Manila Times Channel - https://tmt.ph/YTSubscribe  Visit our website at https://www.manilatimes.net  Follow us:  Facebook - https://tmt.ph/facebook  Instagram - https://tmt.ph/instagram  Twitter - https://tmt.ph/twitter  DailyMotion - https://tmt.ph/dailymotion   Subscribe to our Digital Edition - https://tmt.ph/digital   Check out our Podcasts:  Spotify - https://tmt.ph/spotify  Apple Podcasts - https://tmt.ph/applepodcasts  Amazon Music - https://tmt.ph/amazonmusic  Deezer: https://tmt.ph/deezer Stitcher: https://tmt.ph/stitcher  Tune In: https://tmt.ph/tunein  Soundcloud: https://tmt.ph/soundcloud   #TheManilaTimes #tmtnews #ustariffs #trump #steel

Transcript

00:00We are going to be imposing a 25 percent increase.

00:06We're going to bring it from 25 percent to 50 percent, the tariffs on steel into the United

00:12States of America, which will even further secure the steel industry in the United States.

00:21Nobody's going to get around that.

00:24So we're bringing it up from 25 percent.

00:28We're doubling it to 50 percent.

00:30He's going to make this is this is going to be his pet project.

00:34It's going to be great.

00:36But the Nippon investment we're announcing today blows them all away with a record setting.

00:41And this was just heard of.

00:43We just came out a little while ago, 14 billion dollar commitment to the future of this company.

00:51It's that is the single largest investment.

00:59That's a single largest investment of any kind in any industry.

01:05So not only steel, go all the way back, you go into fracking, you go into anything you want

01:10to go into because you're a good fracking state, too.

01:13We love fracking, by the way.

01:15But think of this.

01:16Think of this.

01:17The largest investment of any kind in the history of the Commonwealth of Pennsylvania.

01:23And we also will be the largest investment in the history of American steel industry.

01:28There's never been a 14 billion dollar investment in the history of the steel industry in the

01:36United States of America.

01:37You know, I have to tell you about Nippon.

01:41They kept asking me over and I kept rejecting it.

01:44No way.

01:45No way.

01:46No way.

01:47And after about four times, I said, you know, these people really want to do a great thing.

01:51They want to.

01:52They really want it.

01:53And they're putting up, you know, billions of dollars and they're going to do this plant

01:57and other plants.

01:58And it's great.

01:59And you're going to have control.

02:01You're going to maintain control.

02:04And nobody would put up money like that.

02:06And every time, Dave, I think you'll say every time they came in, the deal got better and

02:11better and better for the workers, because I didn't give a damn about anybody else, if

02:15you want to know the truth.

02:16And the rest of them, they'll take care of themselves.

02:20Most importantly, U.S. steel will continue to be controlled by the USA.

02:24Otherwise, I wouldn't have done the deal.

02:26I wouldn't have done it.

02:28But the USA and we're going to be working together and you're going to look at your board.

02:32You have a great board and we're going to have an amazing alliance.

02:38You don't have a country.

02:39You don't have a country.

02:41You can't make a military.

02:43What are we going to do?

02:44Say, let's go to China to get our steel for the army tanks and for the boats and ships.

02:48A strong steel industry is not just a matter of dignity or prosperity and pride.

02:54It's above all a matter of national security.

02:58We're taking in billions and billions of dollars and tariffs and other things and we're keeping

03:05our competitive nations, we're keeping them, they're competitors, and we're keeping them

03:10totally at bay.

03:11And we right now have the hottest nation anywhere in the world.

03:16And six months ago, we had a nation that was dying.

03:19We had a nation that was cold as ice.

03:22And now we have the hottest, most talked about nation anywhere in the world.

03:26We're going to talk about country where the people got into the world.

03:36We'll be in the middle of a country.

03:37We're going to talk about country, you know, the population, and the United States, which

03:42is a big part of country.

03:43We got a nation to country, and we're going to be here.

03:46We're going to be here.

03:48We're going to be here.

03:49We're going to be here.

03:54You

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