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US to increase steel import tariffs to 50%: Donald Trump
Donald Trump said he will increase steel tariffs from 25% to 50% to further protect the US steel industry.
US President Donald Trump on Friday said he will raise steel import tariffs from 25 per cent to 50 per cent, increasing pressure on global producers and toughening the trade war.
“We are going to be imposing a 25 per cent increase. We're going to bring it from 25 per cent to 50 per cent the tariffs on steel into the United States of America, which will even further secure the steel industry in the United States,” Trump said at a rally in Pennsylvania.
Taking a swipe at China, Trump said America’s future should be built with “the strength and the pride of Pittsburgh,” not “shoddy steel from Shanghai.”
Donald Trump said he kept his promise to Western Pennsylvania by protecting steel jobs and preventing US Steel from shutting down in the Mon Valley.
“By the time I came into office, many feared that the Mon Valley would lose up to 3,000 steel jobs, that US Steel would close… a fixture of the Pittsburgh skyline… But I promised the people of Western Pennsylvania that I would never ever let that happen— and as President, I kept that promise,” Trump said in his address.
Trump touts $9.2 billion Nippon investment to boost US steel, save 100,000 jobs
He said Nippon will invest $2.2 billion in Mon Valley and $7 billion nationwide to modernise steel operations, creating and saving over 100,000 US jobs.
“As part of this monumental commitment, Nippon will invest $2.2 billion to increase steel production here in the Mon Valley Works… In addition, another $7 billion to modernize steel mills, expand ore mines, and build state-of-the-art facilities in Indiana, Minnesota, Alabama, and Arkansas… It will create and save over 100,000 American jobs,” Trump added.
Trump said American workers were long betrayed by globalist leaders, but now have a president who fights for them.
“The men and women here today, they work every day to keep America powerful and strong. And for decades, you watched as one globalist politician after the next sold you out... but now, you finally have a president who's working for you and fighting for you,” added Trump.
