President Trump said on Friday that he is increasing the tariff on steel imported into the United States from 25% to 50%.

“Next week, tariffs on steel will be raised from 25% to 50% to further protect the U.S. steel industry from foreign influence and unfair competition,” The White House stated.

Trump made the announcement at U.S. Steel in Pittsburgh, Pennsylvania.

“We don’t want America’s future to be built with shoddy steel from Shanghai—we want it built with the strength and the pride of Pittsburgh!” he said.

From POLITICO:

“At 50 percent, they can no longer get over the fence,” Trump said during a speech at a U.S. Steel facility in West Mifflin, Pennsylvania, where he announced some details of a new “partnership” that will allow Japanese-owned Nippon Steel to acquire the iconic American company.

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Trump initially imposed a 25 percent tariff on steel during his first term in office under a national security trade provision known as Section 232 of the 1962 Trade Expansion Act. After returning in January for a second term, he canceled deals that the Biden administration made with Japan, the U.K. and the EU to ease the impact of those tariffs. He also further tightened the duties by eliminating a program that allowed importers to seek exemptions for individual steel products.

His announcement on Friday came after two court rulings this week that struck down his use of another authority, the International Economic Emergency Powers Act, to impose sweeping reciprocal tariffs on countries around the world as well as duties aimed specifically at China, Canada and Mexico. A third federal court promptly issued a temporary stay of one of the rulings, keeping the tariffs in effect, for now.

In the aftermath of those rulings, administration officials have said they would rely on other authorities, like Section 232, to impose duties, while expressing confidence they would win their case to preserve the IEEPA duties on appeal.

“There will be no layoffs and no outsourcing whatsoever, and every U.S. steel worker will soon receive a well-deserved $5,000 bonus,” Trump said.

WATCH:

Steel workers and local politicians reacted to the news:

Unsurprisingly, the European Union criticized the move.

Per CNBC:

The European Union on Saturday criticized President Donald Trump’s move to double tariffs on steel imports, warning that it “undermines” efforts to reach a “negotiated solution” in the ongoing trade war.

“We strongly regret the announced increase of U.S. tariffs on steel imports from 25% to 50%,” an EU spokesperson said in a statement to NBC News.

“This decision adds further uncertainty to the global economy and increases costs for consumers and businesses on both sides of the Atlantic,” the spokesperson continued.

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The spokesperson added that the EU is “prepared to impose countermeasures, including in response to the latest U.S. tariff increase.”

The United Steelworkers union (USW) also criticized Trump’s announcement and said it is a “direct attack on Canadian industries and workers.”

“Thousands of Canadian jobs are on the line and communities that rely on steel and aluminum are being put at risk,” Marty Warren, United Steelworkers National Director for Canada, said in a statement.

 

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