President Trump announced that he would double the steel tariffs at 50%, because he visited the American Steel mill in Pittsburgh suburbs on Friday, week after teasing “Planned partnership“Between the company and its Japanese competitor Nippon Steel.
“We’ll set up an increase of 25%. We’ll get it from 25% to 50% of the tariffs into steel in the United States, which will still ensure the steel industry in the United States,” he said.
The NIPPON contract will enable us the seat of the steel to stay in Pennsylvania, according to Mr. Trump, who was a contract as “investments” and “partial ownership” that will “control”. However, the administration released several details about the agreement.
“We are here today to celebrate the Blockbuster Agreement to ensure that this story is an American company to remain American company,” said Mr. Trump Friday.
Mr. Trump’s announcement last week was the latest turn in Nippor’s effort to get steel. It was nearly $ 15 billion to buy American steel blocked Former President Joe Biden in January at national security.
Mr. Trump, who opposed the acquisition during the campaign 2024. Since then, the contract has been heated between steel producers, which introduced to $ 14 billion investment to say that the president would “create and save over 100,000 American jobs”.
Mr. Trump, who opposed acquisition during the campaign 2024. Since then, the contract has heated between steel producers, which investments in the amount of 14 billion will say that the president will create at least 70,000 jobs.
“You’ll be very happy,” Mr. Trump said Friday. “There’s a lot of money coming to you.”
Mr. Trump said the contract would include “vital protection to ensure that all steel workers will maintain their jobs and all facilities in the United States will remain open and successful.” He added that American steel would also retain all his full capacity furnace facilities at least next decade and vowed that there would be no dismissal and outsourcing and outsourcing. ” Every employer in the American steel would soon get a $ 5,000 bonus, he said.
Mr. Trump said he approved the contract after the persistence of Nippon, whose offer continued to get “better and better” every time the company has made another proposal.
Senad David McCormick, Republican Pennsylvania, provided more details about the agreement in Interview with CNBC On Tuesday, saying US Steel would have an American General Manager, and most members of the Board will be from the USA, an arrangement It was also part of the offer rejected by Biden.
McCormick raised one potential difference in the latest iteration, stating that the US would have a golden share now.
“It’s a national security contract that will be signed with the US government,” McCormick said. “It will be a golden share, which will basically require the approval of the Board for a number of board members and it will allow the United States to ensure that the level of production levels are not reduced.”
McCormick said that Nippon would have “certainly members of the board, and that will be part of their entire corporate structure.”
“They wanted the opportunity to get access to the US market – this allowed them to do so and get economic benefits from that,” McCormick told Nippon. “They were negotiating, it was their suggestion.”
It is not yet clear whether the Gold Share provision includes any American ownership of the merged companies.
Union united steel workers oppose the sale, claiming that the Japanese company is making “flashes” who put American jobs at risk.
But without the acquisition, the American Steel has warned last year that the company “largely rotate” from its devices for the explosion of the furnace, in risk thousands of jobs in danger. The company said that the future of its headquarters in Pittsburgh was also uncertain without an agreement.
The American steel employs about 22,000 people, with more than 14,000 employees in North America and others in Slovakia.
2025-05-30 22:16:00
