US President Donald Trump is announcing an increase in import tariffs on steel from 25 percent to 50 percent. He said this in a speech to steelworkers at the American steel producer U.S. Steel in the state of Pennsylvania.
- We will increase tariffs on steel from 25 percent to 50 percent, which will further secure the steel industry, says Trump.
On his social media Truth Social, the president adds that the tariff rate on aluminum will also be doubled to 50 percent. The new tariffs will come into effect from Wednesday, June 4, writes Trump.
DE: Will affect Danish companies
US head of the Danish Chamber of Commerce, Søren Friis Hansen, believes that the increase will affect already affected Danish companies.
- The escalation from Trump affects Danish companies that produce components and metal goods for the US market, many of which are already hard hit.
- Indirectly, it helps to pour additional coolant on the economic optimism in the US, writes Søren Friis Hansen in a comment.
- The latest development basically means further uncertainty and uncertainty about the terms of trade and the negotiations that have begun between the US and the EU, writes the US head of the Danish Chamber of Commerce.
In his speech at the factory in Pennsylvania, Donald Trump also touched on an imminent merger of U.S. Steel and Japan's Nippon Steel.
In early January, Trump's predecessor Joe Biden blocked Nippon Steel from acquiring U.S. Steel. Biden blocked a sale because he wanted to ensure national steel production in the United States. Last week, Donald Trump gave the green light to a "partnership" between U.S. Steel and Nippon Steel.
- U.S. Steel will remain under U.S. control, Trump said in the speech.
The details of the partnership remain unclear.
Trump believes in job growth
The White House writes on the social media X that Nippon Steel will invest $14 billion, equivalent to 92 billion kroner, in U.S. Steel.
- With the help of workers who are here today, Pittsburgh will once again be known around the world as the Steel City (The Steel City, ed.), says Donald Trump.
The president has previously said that U.S. Steel will continue to be headquartered in Pittsburgh and that the agreement with Nippon Steel will create at least 70,000 jobs.
The United Steelworkers union, which represents thousands of hourly workers, said in a statement on Wednesday that "the partnership continues to raise more questions than answers."
/ritzau/AFP
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