President Donald Trump announced Friday his intent to more than double tariffs on steel imported into the United States, raising the rate from 25% to 50%. Speaking to an enthusiastic crowd of US Steel employees at a facility in West Mifflin, Pennsylvania, Trump asserted the move was crucial to safeguarding American steel jobs.
“We are going to be imposing a 25% increase,” Trump declared, “We’re going to bring it from 25% to 50%, the tariffs on steel into the United States of America, which will even further secure the steel industry in the United States. Nobody’s going to get around that.”
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Trump revealed that while he initially considered a 40% tariff, industry executives pressed for the higher 50% rate. “At 25% they can sorta get over that fence,” he explained, “At 50% nobody’s getting over that fence.”
The former President later confirmed on his Truth Social platform that the elevated tariff rate would take effect on Wednesday, June 4th. “It is my great honor to raise the Tariffs on steel and aluminum from 25% to 50%, effective Wednesday, June 4th. Our steel and aluminum industries are coming back like never before. This will be yet another BIG jolt of great news for our wonderful steel and aluminum workers. MAKE AMERICA GREAT AGAIN!” he posted.
This announcement follows Trump’s previous imposition of a 25% tariff on all steel and aluminum imports in March 2018, which led to immediate retaliation from Canada and strong objections from the American auto industry and the European Union. While the EU ultimately rescinded its retaliatory tariffs, the initial measures underscored the global economic impact of such policies.
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Trump lauded his past tariffs for revitalizing the US steel industry, claiming American steelmaking would have vanished without his intervention. He argued that all steel production would have shifted overseas, leading to widespread factory closures.
However, the economic implications of such steep tariffs are complex. While they may offer a boost to domestic steel producers by reducing foreign competition, they also have the potential to significantly increase costs for crucial American industries like construction and manufacturing, which rely heavily on steel. Spot prices for domestically-sourced steel have already risen since the initial 25% tariff was announced in March.
A 2023 analysis by the International Trade Commission on Trump’s 2018 steel tariffs found that while US production modestly expanded, the increased costs for materials in industries like automobiles, tools, and machinery ultimately shrank those industries’ output by over $3 billion by 2021, suggesting that the costs may have outweighed the benefits.
Trump’s latest tariff move leverages Section 232 of a trade law, granting the president authority to impose higher tariffs on national security grounds.
Last year, the US imported $31.3 billion worth of iron and steel (grouped together in government data), with Canada being the leading source, shipping $7.6 billion worth to the US.
At the event, US Steel employees expressed strong support for Trump’s actions. Kurt Barshick, Plant GM, stated, “I can stand here years later and think about our children, our grandchildren, our great-grandchildren that are going to have family-sustaining, good-paying jobs — all because of President Trump.”
Don German, Plant Manager, and Jason Zugai, Local 2227 Vice President, echoed similar sentiments, emphasizing the importance of these investments for the future of Pittsburgh’s steel industry. Scott Buckiso of U.S. Steel and Brian Pavlak, founder of Steel Workers for Trump, also lauded Trump’s commitment to American steelworkers.
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