Trump Announces Doubling of Steel Tariffs and U.S. Steel Deal

President Donald Trump announced on Friday that he will double tariffs on steel imports to 50% during a rally at U.S. Steel’s Irvin Works in Pittsburgh. “We’re going to bring it from 25% to 50% the tariffs on steel into the United States of America,” Trump stated, emphasizing the move’s importance for securing the domestic steel industry.
The president also assured that U.S. Steel, a historic American company, will remain under American control following an 18-month effort by Japanese steelmaker Nippon Steel to acquire the company. Trump declared the deal would proceed with Nippon Steel as a partial owner, but the U.S. would retain ultimate control. “We’re here today to celebrate a blockbuster agreement that will ensure this storied American company stays an American company,” he said.
The deal includes a $14 billion investment by Nippon Steel and is expected to create and save over 100,000 American jobs. Trump emphasized that the agreement includes “vital protections” to safeguard steel workers’ jobs and ensure all U.S. facilities remain open and thriving.
Former President Joe Biden had previously blocked the merger in January, citing national security concerns. GOP Senator David McCormick (R-Pa.) confirmed that the deal includes a “golden share,” requiring U.S. government approval for certain board members and production levels.
Despite Trump’s announcement, the deal requires final approval by Thursday following a second review by the Committee on Foreign Investment in the U.S. Japanese trade negotiator Ryosei Akazawa noted that no official announcement has been made by the U.S. government.

Published: 5/31/2025