Trump announces 50% steel tariffs and hails ‘blockbuster’ deal with Japan
The GuardianFriday, May 30, 2025 at 11:58:39 PM
At a rally in Pennsylvania, former President Donald Trump announced a sharp increase in steel tariffs—doubling them to 50% on foreign imports—while cheering a major deal with Japan’s Nippon Steel to invest in US Steel. Framed as a win for American workers, the move aims to protect domestic industry but could spark trade tensions.
Editor’s Note: Steel tariffs are a classic Trump-era economic strategy, meant to boost US manufacturing but often drawing backlash from trading partners. The Japan deal adds a twist—it’s a rare moment of cross-border cooperation in an otherwise protectionist play. For workers and industries tied to steel, this could mean short-term gains, but economists warn it might raise costs for other sectors (think cars or appliances) and invite retaliatory measures. In short: a big bet with ripple effects.
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