U.S. President Donald Trump said Friday he plans to double the tariff rate on steel to 50 per cent, a dramatic increase that could further push up prices for a metal used to make housing, vehicles and other goods.
Trump was speaking at U.S. Steel’s Mon Valley Works–Irvin Plant in West Mifflin, Pa., to announce investments by Japan’s Nippon Steel.
“We are going to be imposing a 25 per cent increase. We are going to bring it from 25 per cent to 50 per cent, the tariffs on steel into the United States of America, which will even further secure the steel industry in the United States. Nobody’s going to get around that,” he said.
“At 25 per cent, they can get over that fence. At 50 per cent, they can no longer get over that fence.”
The U.S. first imposed a 25 per cent tariff on steel and aluminum from Canada in March.
CBC News has contacted the federal government for comment.
More to come.