Trump raises steel import tax to 50%, announces $14Billion investment and $5,000 worker bonuses to boost U.S. steel production after new partnership with Japan Steel.
nvn news
Sat May 31 2025
U.S. President Donald Trump has announced that the tax on imported steel will be raised from 25% to 50%. Speaking at an event in Pennsylvania, Trump said the move is aimed at increasing steel production within the United States.
He explained that this decision follows a new partnership between U.S. Steel and Japan Steel. As part of that collaboration, Trump said $14 billion will be invested in steel production. While details of the deal haven’t been made public yet, he emphasized that it's a big step for the American steel industry.
Trump also made a bold promise: every worker in the steel company will receive a $5,000 bonus.
The announcement took place in Pittsburgh, which is home to the largest steel company in the U.S.—a company Trump claimed he founded in 2018.
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