US steel import tariffs to double to 50pc: Trump

Spanish Market: Metals
30/05/25

The US will double its section 232 tariffs on imported steel to 50pc from 25pc, US president Donald Trump said today at a rally at US Steel's Mon Valley mill near Pittsburgh, Pennsylvania.

Details on when and how the tariff increase will be implemented were not given.

Trump also confirmed that Nippon will go ahead with a $14bn investment in integrated steelmaker US Steel, but did not clarify if the deal is a merger. US Steel will still "maintain control" and its headquarters will remain in Pittsburgh, Trump said, claiming the investment will be the biggest in the history of Pennsylvania and in the US steel industry.

As part of the investment, Nippon will spend $2.2bn on updating Mon Valley and $7bn on updating mills and ore mines in Indiana, Minnesota, Alabama and Arkansas, Trump said. The investment over the next 14 months will create 100,000 jobs and and assure the operation of US Steel's blast furnaces for the next 10 years, according to Trump.

Argus-assessed US hot-rolled coil prices spiked to $950/short ton (st) ahead of the imposition of 25pc tariffs on 12 March, but have since fallen to $881.25/st on weakening demand.

By Marialuisa Rincon

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06/06/25

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Australian iron ore exports fall in April

05/06/25

Australian iron ore exports fall in April

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Foreign-brand EV sales surge in Japan despite US tariff

05/06/25

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US vehicle sales drop in May on tariff pressures

04/06/25

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