Donald Trump says he will double steel and aluminium tariffs to 50%

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Donald Trump said he would double the definitions of steel and aluminum imports from 25 percent to 50 percent in a new escalation of his global trade war.

The US president revealed the increase in fees, as he described a 15 billion dollar partnership between Nippon Steel and the United States in a march in Pennsylvania, and promised to establish an “fence” about the production of local minerals.

“We will bring it from 25 percent to 50 percent, and tariffs for steel in the United States of America, which will secure the steel industry,” he said to the crowd in West Miflin.

“No one will tour it … by 25 percent, they can overcome this fence. In 50 percent, they can no longer exceed the fence.”

The president wrote in a social publication in fact after the gathering.

Trump sought to stimulate American industrial heart attack by targeting what foreign importers consider strongly. In March, 25 percent of the fees were slaughtered on steel and aluminum imports in one of the first outstanding aspects of his global trade war.

Pennsylvania was one of the decisive statements that Trump won in the presidential elections last year after he and Joe Biden installed them with blue collar with competing promises to protect manufacturing functions.

“Whatever legal barriers or economic repercussions, Trump is clearly designed to continue using definitions as a political tool to protect the manufacture of American smoke from the ravages of foreign competition,” said Eswar Brasad, an economist at Cornell University.

On Friday of commercial tensions again, two days after a ruling of American trade ruling increases many illegal tariffs, although this did not include sectoral fees, such as those in steel and aluminum. The White House pledged to combat the decision.

Trump’s volatile approach to the customs tariff – which is repeatedly declared to the new fees before contacting them at a later time – caused confusion between companies and led to huge fluctuations in the markets in recent months.

The Trump administration reached a deal with China two weeks ago to reduce the customs tariff between the two countries, which amounted to up to 145 percent. But it seems that the tensions are rising again on Friday when Trump accused Beijing of ranking, respectively.

The steel tariff escalation comes after Trump last week supported Nippon Steel’s attempt to enter a “partnership” with Steel us, which reflects the opposition of the path of his campaign.

On Friday, the President praised what he called “a wonderful agreement” with a “great partner” that he said “ensures that this American company that was placed in an American company.”

Trump said that Nippon Steel has been “a tremendous commitment” to investing $ 14 billion in the company, including more than $ 2 billion to increase steel production in the Moon Pennsylvania and $ 7 billion to update mills and construction in Indiana, Minnesota, Alabama and Arkansas.