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Trump doubles steel tariffs to 50%

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Trump said U.S. Steel will stay an American company under a deal for Japan-based Nippon to invest in the iconic American steelmaker.
On May 30, 2025, former President Donald Trump announced plans to double tariffs on steel imports if re-elected, aiming to protect the U.S. steel industry and create jobs, according to a report by Fortune. Trump's proposal would increase the current 25% tariff to 50%, a move intended to counteract what he describes as unfair trade practices by countries like China. Critics argue that higher tariffs could lead to increased costs for American manufacturers and consumers, potentially sparking retaliatory measures from trading partners and disrupting global supply chains. The announcement comes amidst ongoing debates about trade policy and its impact on the domestic economy.

Read the Full Fortune Article at:
[ https://fortune.com/2025/05/30/trump-doubles-steel-tariffs/ ]