Trump Hikes Steel Tariffs to 50% in Rally Pledge And Embraces Nippon Takeover

President Donald Trump announced a dramatic hike in tariffs on foreign steel imports to 50%, hailing it as a boost for American workers – while simultaneously backing the Nippon Steel acquisition deal he previously denounced.

Speaking at a US Steel plant in Pennsylvania on Friday, flanked by workers, the president framed the Japanese takeover as a “blockbuster” win for American industry, promising that the tariff rise would “even further secure the steel industry in the United States.”

Trump took to Truth Social after the event that the 50% rate would also apply to imported aluminum, starting 4 June.

It is my great honor to raise the Tariffs on steel and aluminum from 25% to 50%, effective Wednesday, June 4th. Our steel and aluminum industries are coming back like never before. This will be yet another BIG jolt of great news for our wonderful steel and aluminum workers. MAKE AMERICA GREAT AGAIN!

The announcement arrived just a day after a federal appeals court allowed Trump’s steel tariffs to remain in place, despite a trade court ruling that questioned his authority. The legal shield comes via Section 232 of the Trade Expansion Act, which permits tariff action under national security grounds.

Trump also laid out his sudden embrace of Nippon Steel’s $14.9 billion acquisition of US Steel – a deal he had previously vowed to block.

“We’re here today to celebrate a blockbuster agreement that will ensure this storied American company stays an American company,” he said.

At the rally, Trump rebranded the acquisition as a “partnership.”

Trump went on to address the workers and promise every steelworker a $5,000 bonus and called the region a future “golden belt.” He blamed “Washington betrayals” for the industry’s decline and warned against relying on “shoddy steel from Shanghai.”

“You’re going to be very happy,” Trump added. “There’s a lot of money coming your way.”

Watch above via Fox News.