US President Donald Trump has said he planned to increase tariffs on imported steel and aluminium to 50% from 25%, ratcheting up pressure on global steel producers and deepening his trade war.
“We are going to be imposing a 25% increase. We’re going to bring it from 25% to 50% – the tariffs on steel into the United States of America, which will even further secure the steel industry in the United States,” he said at a rally in Pennsylvania.
Mr Trump announced the higher tariffs just outside Pittsburgh, where he was talking up an agreement between Nippon Steel and US Steel.
Mr Trump said the $14.9 billion deal, like the tariff increase, will help keep jobs…