Trump Doubles US Steel Tariffs to 50% Amid Nippon Deal

President Donald Trump announced a significant increase in steel tariffs from 25% to 50%, effective the following week, aiming to protect the U.S. steel industry and secure domestic jobs. He highlighted a major partnership between Japan's Nippon Steel and U.S. Steel, calling it a 'blockbuster agreement' that could represent the largest $14 billion investment in the U.S. steel sector's history and help maintain American ownership of the company. The tariff hike, also applied to aluminum, was presented as a key part of Trump's 'America First' agenda to bolster manufacturing, particularly in critical swing states like Pennsylvania. However, the deal's details and its impact on existing free-trade agreements with Canada, Mexico, and the UK remain unclear. While the tariffs have contributed to a rise in domestic steel prices, analysts and market watchers express uncertainty about broader economic effects and the stock market's cautious outlook on U.S. Steel's future. Despite potential legal challenges, Trump and his administration emphasize that these measures will protect American steel jobs and industry operations, including bonuses for workers at U.S. Steel facilities.