Trump Doubles Steel Tariffs to 50% Amidst Controversial Partnership Deal with Nippon Steel
In a significant move, President Trump has announced the doubling of U.S. steel and aluminum tariffs to 50%. This announcement was made during his visit to a U.S. Steel mill near Pittsburgh, where he also celebrated a partnership deal between U.S. Steel and Japan-based Nippon Steel. Critics have expressed concerns about the implications of this tariff increase, which is set to impact not only foreign relations but also the domestic steel market. The European Union has responded by indicating its readiness to impose countermeasures against the U.S. tariffs. As the steel industry reacts to the deal, there are mixed feelings among stakeholders regarding the potential benefits and challenges that may arise from this partnership.
Euronews, BBC, Fox News, The Guardian, MSN, Star Tribune, Bloomberg, Atlantic Council, CNBC, Axios