Trump Makes ‘Major Announcement’ During Pennsylvania Rally: Tariffs On Steel Will Increase To ’50%’

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During Friday’s rally in West Mifflin, PA, President Trump spoke about new tariffs on imported steel.  Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:  https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript   Stay Connected Forbes on Facebook: http://fb.com/forbes Forbes Video on Twitter: http://www.twitter.com/forbes Forbes Video on Instagram: http://instagram.com/forbes More From Forbes:  http://forbes.com

Transcript

00:00So soon after initially taking office, I imposed powerful 25 percent tariffs on all foreign steel

00:12and ended each and every one of the Biden exceptions and exclusions. And today I have

00:18a major announcement. And are you ready to hear this? This is on behalf of Scott, Secretary of

00:26Treasury, Howard Lutnick, Secretary of Commerce, and all of the great geniuses and people we

00:35have working. And they are smart, but I don't think you'd be a good steel worker, Scott. I'm sorry.

00:40I'm going to have to put a little more muscle content into that guy. But he's great. He's great

00:45at what he does. We are going to be imposing a 25 percent increase. We're going to bring it from

00:5425 percent to 50 percent the tariffs on steel into the United States of America, which will

01:01even further secure the steel industry in the United States. Nobody's going to get around that.

01:10So we're bringing it up from 25 percent. We're doubling it to 50 percent. And that's a loophole.

01:19And by the way, I have to tell you, I believe that this group of people that just made this

01:24investments right now are very happy because that means that nobody's going to be able to

01:29steal your industry. It's at 25 percent, they can sort of get over that fence. At 50 percent,

01:37they can no longer get over the fence. So congratulations to everybody and to you

01:43for making a great deal. You just made a better deal, right?

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