look news india
News India Live, Digital Desk: us President Donald Trump On Friday, he said that his administration would increase the tariff on steel from 25% to 50%. Speaking at the US Steel’s Mon Valley Works-Irwin plant in the suburban area of Pittsburgh, Trump said that increasing the tariff on steel would be safe in the US.
Trump said, “We increase by 25% Are going to implement. We are going to bring it from 25% to 50% – tariff on steel in the United States, which will secure the steel industry in the United States even more. ” Later, in a post on his social media platform Truth Social, Trump said that the tariff on steel and aluminum will increase from 25% to 50%, which will be effective from Wednesday, June 4.
“It is a great respect for me to increase the tariff on steel and aluminum from 25% to 50% from Wednesday, 4 June. Our steel and aluminum industries are returning to a better position than ever. It will be another great news for our magnificent steel and aluminum employees. Make America great again,” Trump said on its social media platform Truth social.
Earlier on 11 February, Trump increased the tariff on steel and aluminum from 10% to 25%.
During his 2024 President’s campaign, Trump announced a plan to work with the Congress to pass the mutual trade act. This Act will give them the right to increase tariffs on specific foreign goods up to the levels imposed by those countries.
In an expedition video, Trump said the mutual trade act would force other countries to either remove its tariffs or pay hundreds of billion dollars on the US.
Trump said in a campaign video, “Under the Trump Reciprocal Trade Act, other countries will have two options, either they will remove the tariffs imposed on us, or they will pay us hundreds of billion dollars, and the United States will get immense money.”
Trump said that if a country imposes 100% or 200% tariff on goods manufactured in America, they will also impose the same tariff in response.
He said, “If India, China or any other country imposes 100 or 200% tariffs on American -made goods, then we will also impose equal tariffs on them. In other words, 100 percent, 100 percent. If they charge us, we will also pay with them – we will also pay with them – the eye instead of eye, tariff instead of tariffs, exactly the same amount.”
