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Steel faces hard times as tariffs climb to 50%!
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Steel faces hard times as tariffs climb to 50%!

US President Donald Trump shows no sign of slowing down. He has announced a forthcoming increase in import tariffs on steel, intensifying his trade war strategy with remarkable enthusiasm.
According to the president’s plan, steel tariffs are set to double from 25% to 50%. Trump claims the measure aims to strengthen the American steel industry.
The tariff hike is also intended to support a deal between Nippon Steel and United States Steel, which the president considers a key investment in US steel production. Nippon Steel Corporation reportedly plans to invest $2.2 billion in the Mon Valley Works and an additional $7 billion to modernize steel plants, expand mines, and build facilities across several states. Trump stated these investments would create over 100,000 jobs for Americans.
The president highlighted the scale of the Nippon deal, calling it a record-breaking investment of $14 billion in the company’s future and the largest in Pennsylvania’s history. He expressed confidence that the agreement would protect steelworkers, secure employment, and ensure the continued operation of all US facilities. Trump also emphasized an upcoming $5,000 bonus for each US Steel employee.
This development is expected to significantly impact the global steel market, as higher tariffs could shift trade dynamics and affect steel producers worldwide.
প্রকাশিত 04 June 2025
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