Trump decided to increase the tariff from 25 percent to 50 percent on steel and aluminum

Donald Trump: US President Donald Trump went to a plant visited by United States Steel Corporation on Friday. During this, he said that he will increase the tariff on steel and aluminum from 25 percent to 50 percent. He says that this will help in the protection of American workers.

Trump reached in support of this deal

In fact, Trump went to a plant in Pittsburgh in connection with a possible deal between US Steel and Japan’s Nippon Steel Corp. Here he said that increasing the tariff on steel will benefit American operations for this new venture.

In 2023, Nippon Steel proposed to purchase US Steel for US $ 14.9 billion, but the then Biden government stopped the deal as a threat to national security. While sources say that Trump is in support of this deal, describing this deal as partnership. Nippon will share its technique of steel manufacturing with US steel by investing billions of dollars in US steel plants and the two will work together in this direction.

Why did Biden protest?

Biden believed that America’s economy benefits greatly from the American steel industry. The supply chain here is also strong. In such a situation, if its ownership goes into the hands of another foreign company, then the control of its supply chain will also come to his hand, which will harm America. Trump has said to increase the tariff on aluminum in one of his posts on Truth social platform. He said that the new two will be effective from Wednesday, June 4.

Money will be spent in these works

Trump has even planned the expenditure of US $ 14.9 billion to get an investment from Nippon Steel. He said that out of this, $ 5,000 will be spent in giving bonuses to US steel employees. 2.2 billion dollars will be placed at the Mon Valley Works Plant to increase steel production. Apart from this, $ 7 billion will be spent in making several facilities in Indiana, Minnesota, Alabama and Arkansas. There is also a plan to expand steel mills modernization, ore mining.

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