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US President Donald Trump has announced an increase in tariffs on foreign steel imports from 25 percent to 50 percent. Speaking at the Mon Valley Works-Irvin plant of US Steel in Pittsburgh, he declared that America's future does not lie in relying on inferior steel from Shanghai.
Trump Tariff: US President Donald Trump announced a doubling of import tariffs on foreign steel and aluminum during an event at US Steel's Mon Valley Works-Irvin plant near Pittsburgh. The import duty on both metals will now increase from 25% to 50%. This decision will be effective from Wednesday and is being seen as a major shift in Trump's global trade policy. Trump took this step at a time when tensions are at their peak in the trade of crucial minerals and technology between the US and China. The US President stated that America's future will not depend on inferior steel from Shanghai.
Trump said that this move will strengthen the American steel industry and boost domestic production. He stated, "This glorious American company will remain an American company." Through this step, Trump also indicated that he is giving top priority to the domestic industry under the 'America First' policy.
This decision comes at a time when steel prices are continuously increasing in the US. Since Trump's re-election in January 2025, steel prices have increased by 16%. According to the US Department of Commerce, in March 2025, the price of steel in the US was $984 per metric tonne, while it was $690 in Europe and $392 per tonne in China.
Meanwhile, Trump has also approved the acquisition of a partial stake in US Steel by Japan's Nippon Steel. Earlier, Trump was opposing this acquisition, but now he has accepted it as a partial ownership agreement. However, the full terms of this deal have not yet been made public. It is being reported that it will include a golden share arrangement with a US-led board and executive team, giving the US government veto power over key decisions.
However, the United Steelworkers Union has given a cautious response to this deal. Union President David McCall said that he is concerned about the potential impact of this merger on national security, employees, and communities. It is noteworthy that in 2024, the US produced three times more steel than it imported. Canada, Brazil, Mexico, and South Korea are its major steel suppliers.
After the alleged 'Liberation Day import tariff', famously known as the Trump Tariff, faced legal challenges, President Donald Trump has prepared a Plan B. However, after the US International Trade Court declared the Trump Tariff illegal, the appeals court gave the Trump administration temporary relief. The appeals court stayed the trade court's decision and reinstated the Trump Tariff. Despite this, the Trump administration, under 'Plan B', plans to impose a temporary 15% tariff for 150 days using Section 122 of the 1974 Trade Act. This temporary measure will give the administration time to deal with the trade imbalance, after which a long-term strategy will be adopted under Section 301, which allows action against unfair trade practices.
Experts believe that Plan B for implementing the Trump Tariff is more sustainable and constitutionally stronger, which will help the US maintain its position in trade negotiations. If the Trump administration implements tariffs under its 'Plan B', it could also have implications for India. India's exports to the US, particularly in sectors like textiles, pharmaceuticals, IT services, gems and jewellery, could be affected. Furthermore, US investors may exercise caution in the Indian market, potentially putting pressure on the Indian stock market.
However, there has been no official response from the Indian government on this issue yet. Analysts say that India should reconsider its trade strategy and explore alternative markets to mitigate the impact of potential tariffs. This development clearly shows the increasing legal and political complexities in global trade policies, which can also affect emerging markets like India.
Following Elon Musk's departure from the Trump administration, US President Donald Trump and Elon Musk jointly addressed a press conference in the Oval Office of the White House on Friday. Trump addressed Musk as a South African-born billionaire. Trump praised Musk, saying, "My friend Musk has done a great job." Addressing the media, Trump said, "Today we are talking about a man named Elon, who is one of the greatest innovators in the world."
Here, Trump said, "Our government can sometimes be a little unpleasant." To which Musk replied, "Yes, sometimes." Trump said that Elon Musk and his Department of Government Efficiency have exposed things that were incredibly foolish and incredibly bad. In this way, Musk has made a 'huge change' in the way things work in Washington. Trump said, "The mindset of senior officials in every federal department has really changed."
With this, Elon Musk's short but explosive tenure in Washington ended on Friday. Musk served as the head of the Department of Government Efficiency, created to reduce federal spending, for only four months. However, from the beginning, it has faced sharp criticism for its aggressive cuts and disorganized methods. Musk had promised to cut federal spending by $2 trillion. Instead, observers estimate that his actual savings were less than $12 billion.