'We are not dependent on China's cheap steel...', Donald Trump imposed 50% tariff on steel import

News Topical, Digital Desk : US President Donald Trump on Friday, while speaking at a Mon Valley Works-Irvine steel plant in Pennsylvania, announced that he would increase the import duty on steel from 25 percent to 50 percent. He made this announcement when he was referring to the partnership between Japanese company Nippon Steel and US Steel.

He told a gathering of workers, "We are going to increase it from twenty-five percent to fifty percent, so that the steel industry in America can be made more secure. No one will be able to bypass this rule."

'New charges will be implemented next week'

The White House said in a social media post that these new tariffs will come into effect from next week. Trump has imposed import tariffs on many countries since returning to power, including both US allies and opponents. This has caused turmoil in the global trade system.

A 25% tax has already been imposed on the steel, aluminium and automobile sectors. Trump said in his speech that these duties protect American companies and that the plant is running today because he had earlier imposed duties on the import of metals.

'America will retain control over US Steel'

In his speech, Trump also said that US Steel will still remain under American control, even if the partnership is with Japan's Nippon Steel. He said that after this agreement, neither anyone's job will be lost nor any work will go abroad.

"America's future must be built with the 'strength and pride of Pittsburgh' rather than relying on 'cheap steel from Shanghai,'" Trump said, according to news agency Reuters.

There was an earlier proposal to sell US Steel to Nippon Steel for $14 billion, which was rejected by both Democrats and Republicans. Joe Biden stopped it on grounds of national security before leaving the presidency.

The truth of the deal is still not clear: Mazdoor Sangh

However, there are still many questions about this new partnership. The United Steelworkers Union issued a statement on Wednesday saying, "Nippon still says it will invest only if it becomes the full owner of US Steel. We know of nothing to suggest that their opinion has changed."

Let us tell you that Trump was earlier against Nippon's plan to completely buy US Steel, but now he has indicated that he is ready for investment. He said that this partnership will create seventy thousand jobs in America and the American economy will benefit by fourteen billion dollars.

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