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President Trump to Raise Steel Tariffs to 50% (Full Remarks)
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May 30, 2025
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19:13Now PlayingPresident Donald Trump said he would be increasing tariffs on steel to 50% from 25%, saying the move would help protect American steelworkers during a visit to a United States Steel Corp. plant on Friday.
Trump was visiting the plant to champion an expected deal between United States Steel Corp. and Japan’s Nippon Steel Corp. as one that would ensure the iconic American firm remains US-owned and operated, even as details on the agreement remain vague. He said the new tariffs would benefit the new venture’s US operations.
“I believe that this group of people that just made this investments right now are very happy, because that means that nobody’s going to be able to steal your industry,” Trump said. “It’s at 25%, they can sort of get over that fence, at 50% they can no longer get over the fence.”
Trump’s rate hike, which the White House said would go into effect next week, caps a tumultuous stretch that saw a trade court rule his sweeping “reciprocal” tariff regime illegal, only for an appeals court to offer a stay keeping the levies temporarily in place. Earlier Friday, Trump also registered his frustration with China — who he accused of reneging on a tariff truce negotiated earlier this month — raising the prospect of additional import taxes.
The new 50% level also offers a backstop for Trump’s promise that the US Steel-Nippon deal, which he opposed on the campaign trail, would benefit steelworkers in the critical battleground state of Pennsylvania. The deal was opposed by the United Steelworkers, who worried Japanese ownership could see capacity reduced and jobs shifted to other plants.
“There’s a lot of money coming your way,” Trump added, as he spoke in front of signs reading “The Golden Age” — a reference to the economic boom he says his policies will unleash — as well as “American Steel” and “American Jobs.”
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