Trump doubles down on tariffs for one

The price of construction materials, particularly steel, has risen by around 16% since Trump took office, fueled by his aggressive trade policies. Recently, Trump announced plans to double tariffs on imported steel and aluminum from 25% to 50%, citing China’s alleged violation of their 90-day trade truce. Although Trump didn’t specify how China broke the agreement, Trade Representative Jamieson Greer claimed China failed to remove non-tariff barriers as promised. Speaking to workers at the Mon Valley Works-Irvin Plant in Pennsylvania, Trump emphasized that the higher tariffs would protect American steel jobs from foreign competition.

In the same address, Trump mentioned that US Steel would remain an American company despite a new investment deal with Japan-based Nippon. While initially opposed to Nippon’s bid to buy the Pittsburgh-based steelmaker, Trump reversed course, supporting an agreement for Nippon’s partial ownership. He didn’t provide further details about how ownership would be structured, but stressed that US Steel would stay American. The higher tariffs and steel deal come as part of Trump’s broader effort to support the US steel industry and maintain a strong domestic manufacturing base.