New York: Former U.S. President Donald Trump, who previously initiated a trade war, has now announced a new decision. He stated that the import tariff on steel and aluminum would be increased from 25% to 50%. Trump said the decision was aimed at strengthening the domestic steel industry. Speaking at a rally held in Pittsburgh, Pennsylvania, he emphasized that this move would support the local steel sector, boost national supply, and reduce dependency on China.

He announced a $14 billion investment for the development of the U.S. steel industry and revealed that an agreement was being made with Japan's Nippon Steel. However, he mentioned that a final decision on that deal is still pending. Trump assured that there would be no layoffs or outsourcing in the steel sector going forward. He also promised a bonus of $5,000 for every steel industry worker.

In light of the proposed deal with Nippon Steel, steel industry employees in the U.S. are reportedly concerned about payments and hiring policies. However, Trump asserted in his speech that he is protecting the American steel industry. The country’s largest steel sector is based in Pittsburgh. Back in 2018, during his first term as President, Trump raised the steel tariff to 25%. Increasing the tariff now to 50% is intended to further support the U.S. steel industry, he explained.