President Trump Announces Nippon Deal to Keep US Steel in America, Doubles Tariffs to 50%

NBC News
Trump says U.S. will double steel tariffs to 50%

Sources familiar with the matter told CNBC’s David Faber that Nippon is expected to close its acquisition of U.S. Steel at $55 per share, the original offer the Japanese steelmaker made before President Joe Biden rejected the deal in January. Biden blocked Nippon’s proposed acquisition on national security grounds, arguing that it would jeopardize critical supply chains.

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NBC News
NewsNation
Trump doubles tariffs on steel, aluminum to 50%

During Friday’s rally, President Trump announced an imminent 25% tariff increase on foreign steel entering the U.S., to 50% as a means to “further secure the steel industry in the United States.” Trump spoke in West Mifflin, Pennsylvania, following a “blockbuster deal” allowing Japan-based company Nippon Steel to invest in U.S. Steel, a Pittsburgh-based company.

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Townhall
'It’s Just Wonderful': Pittsburgh Steelworkers Praise Trump After President Saves U.S. Steel

During Trump’s speech at U.S. Steel's Irvin Works in West Mifflin, Pennsylvania, the president addressed the crowd, calling steelworkers the "heart and soul of U.S. Steel." He promised that the partnership with Nippon Steel would save 14,000 jobs and that there would be "no layoffs and no outsourcing whatsoever." The president also revealed that steelworkers will receive a $5,000 bonus for the partnership.

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Townhall

News Results

Watch: Nearly 79-Year-Old President Trump Takes Reporters' Questions in the Pouring Rain Without an Umbrella at the End of a Long Day
President Donald Trump spoke to reporters for over six minutes in the pouring rain without an umbrella Friday night. Trump was returning from a trip to Pittsburgh where he held a rally with steel workers to celebrate his deal to save U.S. Steel. Earlier in the day, Trump held a lengthy Oval Office press conference with outgoing DOGE chief Elon Musk.
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After first agreeing with Biden, Trump to announce US Steel-Nippon deal - Roll Call
The deal would install atop the new company an American CEO and a majority of board members from the United States. Trump and his top trade and manufacturing advisers had insisted since he took office that any merger arrangement between Nippon and U.S. Steel would have to feature a controlling role.
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‘U.S. Steel will be controlled by the USA’: Trump announces 50% tariff on imported steel
President Donald Trump spoke at the U.S. Steel plant in West Mifflin on Friday. During the event, Trump announced the tariff on imported steel will double to 50%.
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Trump touts 'blockbuster agreement' between US Steel, Nippon: 'Stays an American company'
Trump announced a $5,000 bonus for every US steelworker during Pennsylvania rally. Nippon Steel initially proposed buying U.S. Steel in 2023 for $14.9 billion, but the deal was put on hold due to political opposition. Former President Joe Biden blocked the deal on national security grounds in January.
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Trump to Hike Steel Tariffs to 50% to Aid Nippon-US Steel
President Donald Trump said he would be increasing tariffs on steel and aluminum to 50% from 25%, saying the move would help protect American workers, as he visited a United States Steel Corp. plant on Friday.
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Trump hails Nippon Steel as ‘great partner’ as deal awaits approval
The Japanese firm’s planned acquisition of U.S. Steel, initially floated in 2023, divided the politically important state of Pennsylvania and its heavily unionized blue-collar workforce.
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Trump says he's doubling steel tariffs to 50% during visit to U.S. Steel mill near Pittsburgh
Mr. Trump says he's doubling steel tariffs to 50% during visit to U.S. Steel mill near Pittsburgh. The increase would also be applied to aluminum, and would take effect on June 4. Mr. Trump teased a "planned partnership" between the company and its Japanese competitor Nippon Steel.
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Trump Pledges to Double Tariffs on Foreign Steel to 50%
President Trump made the announcement at a U.S. Steel factory outside Pittsburgh. He said foreign countries had been able to circumvent the 25 percent tariff he put in place this year. A court ruled on Wednesday that Mr. Trump’s taxes on imports from China, Canada, Mexico and other nations were unlawful.
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Trump announces new steel tariffs, bonuses and no layoffs while touting U.S. Steel-Nippon deal in West Mifflin
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Trump Live Updates: Higher U.S. Tariffs on Steel and Aluminum Take Effect
U.S. tariffs on steel and aluminum imports doubled on Wednesday, as President Trump continued to ratchet up levies on foreign metals. The tariffs, which rose to 50 percent from 25 percent, have already rankled close allies that sell metal to the United States, including Canada and the European Union.
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Steel stocks leap after Trump vows to double tariffs to 50%, make Pittsburgh ‘the Steel City again’
Shares in mining company Cleveland-Cliffs soared 21.4% by approximately 1:00 p.m. ET. Steel Dynamics and Nucor Corp rose 9.7% and 8.7%, respectively. Trump told steelworkers he would hike the tax on steel imports so Pittsburgh would be “respected around the world as the Steel City again”
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Steel & Aluminum Stocks Soar As Trump Plans Metal Tariffs
President Trump announced Friday that steel and aluminum tariffs will double from 25% to 50%. The move is a cornerstone of his "America First" agenda to revive U.S. manufacturing. The tariffs, set to take effect Wednesday, sparked a sharp rally in metal stocks in premarket trading as investors bet on stronger domestic production and profits.
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