Mr. Trump announces US to increase steel tax to 50%

Thanh Hà |

We will increase the import tax on steel to the US from 25% to 50%, President Donald Trump announced on May 30.

President Trump said he would double the tariffs on imported steel from abroad to further protect the domestic industry in his speech at the Irvin Works steel plant in the US. Steel in West Mifflin, Pennsylvania.

Mr. Trump said that higher tariffs will further protect the steel industry in the US. President Trump has increased tariffs on foreign steel and aluminum after taking office earlier this year.

"No one can avoid this," Trump stressed when announcing a steel tax increase.

President Trump is in Pennsylvania to attend a US-China cooperation event. Steel and Nippon Steel of Japan, an event he said would strengthen the steel industry in the US.

Last week, Mr. Trump said he would support the merger of U.S Steel with Japan's Nippon. Mr. Trump described the deal as a "partnership" in a post on May 23 on the social networking platform Truth Social.

President Donald Trump said that the headquarters of the US. Steel will remain in Pittsburgh and Nippon will invest $14 billion over the next 14 months in the US's more than 12-year-old industrial icon.

Thanh Hà
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