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OAN Staff Blake Wolf
5:49 PM – Friday, May 30, 2025
President Donald Trump announced that he will be doubling tariffs on steel to 50% during a Pittsburgh rally at U.S. Steel’s Irvin Works on Friday.
“We are going to be imposing a 25% increase. We’re going to bring it from 25% to 50% the tariffs on steel into the United States of America, which will even further secure the steel industry in the United States,” Trump stated.
President Trump also assured that the iconic American company, U.S. Steel, will remain an American owned company following an 18-month long effort by Nippon Steel, a Japanese steelmaker, to buy-out the company.
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Trump proclaimed the deal would proceed, with Nippon Steel as a partial owner, but the U.S. would retain ultimate control.
“We’re here today to celebrate a blockbuster agreement that will ensure this storied American company stays an American company,” Trump continued, speaking with over 1,600 people, including steel workers. “You’re going to stay an American company, you know that right? But we’re going to have a great partner.”
President Trump also boasted in a social media post last Friday that the deal with the Japanese company will include a $14 billion investment and will “create and save over 100,000 American jobs.”
“You’re going to be very happy,” he stated. “There’s a lot of money coming your way.”
Trump added that the megadeal includes “vital protections to ensure that all steel workers will keep their jobs and all facilities in the United States will remain open and thriving.”
Former President Joe Biden previously blocked the merger in January, citing national security concerns.
“It is my solemn responsibility as president to ensure that, now and long into the future, America has a strong domestically owned and operated steel industry that can continue to power our national sources of strength at home and abroad; and it is a fulfillment of that responsibility to block foreign ownership of this vital American company,” Biden stated at the time.
Additionally, GOP Senator David McCormick (R-Pa.) claimed on Tuesday that the deal includes the majority of board members being from the U.S., and that the U.S. federal government would have a “golden share.”
“It’s a national security agreement that will be signed with the U.S. government,” McCormick stated. “There’ll be a golden share, which will essentially require U.S. government approval of a number of the board members and that will allow the United States to ensure production levels aren’t cut.”
Despite Trump’s announcement, the president has until next Thursday to finalize and approve the deal, following a second review from the Committee on Foreign Investment in the U.S. which occurred last week, according to Reuters.
“I am aware of the various reports and posts by President Trump on social media. However, there has not yet been an official announcement from the U.S. government,” stayed Japanese trade negotiator Ryosei Akazawa on Friday.
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