US President announces doubling of tariffs on steel imports to 50 % to protect American Industry –

US President Donald Trump has announced that he will double the tariff on steel imports from 25 percent to 50 percent to protect American industry. Speaking to Pennsylvania steelworkers in Pittsburgh, Trump said America’s future should be built with the strength and the pride of Pittsburgh, and not shoddy steel from Shanghai.
In a post later on his Truth Social platform, US President said that aluminium tariffs will also be doubled to 50 per cent, and both tariff hikes would go into effect on Wednesday. Trump said 9.2 billion dollar investment from Nippon will boost US steel and save one lakh jobs. He said Nippon will invest 2.2 billion dollars in Mon Valley and 7 billion dollars nationwide to modernise steel operations.