President Donald Trump dramatically escalated the trade war on May 30th, announcing a significant increase in steel tariffs during a rally at the U.S. Steel Corporation’s Irvin Works plant in Pennsylvania. The President revealed that tariffs on all imported steel will be doubled, jumping from 25% to a hefty 50%.

The announcement, made amidst celebrations for a new partnership between U.S. Steel and Japan’s Nippon Steel, sent shockwaves through the global steel industry. Trump confidently asserted, “Nobody’s going to get around that. We’re making the best deal.”

While the exact implementation date of the increased tariffs remains unclear, the President’s decisive action underscores his commitment to protecting American steel producers. This move is sure to have far-reaching consequences for international trade relations and the price of steel worldwide. This is a developing story, and we will provide updates as they become available.