Trump doubles tariffs on steel
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President Donald Trump touted a "blockbuster agreement" between U.S. Steel and Japanese company Nippon Steel that he said would keep the U.S. steelmaker in Pittsburgh.
President Donald Trump traveled to Pittsburgh Friday to celebrate a deal he once vowed to oppose - Japanese steelmaker Nippon Steel’s long-announced plans to buy iconic American steelmaker US Steel.
President Trump’s plan to double tariffs on foreign steel and aluminum could have sweeping effects on projects across Maryland.
A planned merger of the Japanese and American giants, announced in 2023, has traveled through an election, two presidents and strong union opposition.
The $14 billion that Nippon Steel Corp. executives have pledged to pump into the operations of U.S. Steel Corp. could weaken the U.S. steel market, two analysts noted this week—with one of them saying steel fundamentals are “in free fall.”