Today's News: Trump Announces New Steel and Aluminum Tariffs and a US Steel Deal
While Trump and company officials touted major investments and job protections, critics noted a lack of transparency and possible national security concerns.
Photo: Kenny Holston/The New York Times
Overview
Date: May 30–31, 2025
Topic: Trump Announces Doubling of Steel and Aluminum Tariffs and Endorses U.S. Steel-Nippon Deal
Summary: President Donald Trump announced plans to double tariffs on imported steel and aluminum from 25% to 50%, framing it as a move to strengthen domestic industry and protect American workers. The announcement coincided with his support for a new “partnership” between U.S. Steel and Japan’s Nippon Steel, which he had opposed during the campaign. Trump emphasized that the deal would retain U.S. control through mechanisms like a “golden share,” despite ongoing confusion about the true ownership and structure. While Trump and company officials touted major investments and job protections, critics noted a lack of transparency and possible national security concerns. International reactions to the tariff hike were swift, with the EU threatening countermeasures.
Sources
The New York Times – Trump Pledges to Double Tariffs on Foreign Steel and Aluminum to 50%
CNN – Trump doubles steel tariffs to 50% in ‘major announcement’
Fox Business – Trump doubles steel tariffs to 50% in bid to boost US industry
The Washington Post – Trump says steel tariffs will rise to 50%, doubling the import tax
The Wall Street Journal – Trump Says Steel and Aluminum Tariffs Will Double to 50%
Key Points
Trump announced that tariffs on imported steel and aluminum will double to 50%, effective June 4, 2025.
The policy is positioned to protect American steel jobs and manufacturing from foreign competition.
Trump cited advice from industry leaders who pushed for a 50% rate instead of 40%.
The tariffs are being enacted under Section 232, citing national security.
The U.S. Steel-Nippon deal was reframed as a “planned partnership,” with Trump insisting U.S. control will be retained through mechanisms such as a “golden share.”
Domestic and foreign reactions were mixed; labor unions expressed caution, and the EU threatened retaliatory tariffs.
Unique Highlights
The New York Times reports that Trump claimed the deal would inject a $17 billion investment in US Steel, conflicting with previous figures. It also notes that details remain ambiguous and suggests the deal may be repackaged to avoid political backlash.
CNN provides background on Trump’s earlier 25% tariff decision in March and includes EU and UK responses to the new tariffs. It also quotes Trump celebrating the inclusion of a golden share.
NBC News offers the most specific legal framing of the US Steel deal structure, noting the CFIUS review and statements from Sen. Dave McCormick about U.S. majority board control.
Fox Business emphasizes local economic optimism and includes quotes from steelworkers and Trump regarding Wall Street criticism.
The Washington Post highlights the broader economic implications, such as rising costs for industries like construction and manufacturing, and outlines global steel oversupply.
The Wall Street Journal provides granular detail about Nippon Steel’s planned $9.2 billion investment in specific U.S. plants and bonuses for workers, and notes union concerns about the opaque nature of the US Steel agreement.
Contrasting Details
Investment Value: The New York Times cites Trump claiming $17 billion in investment, while The Wall Street Journal and others report $14 billion—closer to Nippon’s original offer.
Control of U.S. Steel: Trump and Peter Navarro both insist the U.S. will retain control, yet NBC News and The Wall Street Journal confirm Nippon will acquire full ownership, mitigated by governance provisions like board makeup and federal oversight.
Deal Framing: Trump labels it a “partnership,” while NBC News and The Wall Street Journal cite formal SEC language describing it as a full acquisition, underscoring a discrepancy between political messaging and corporate filings.
Union Positioning: Multiple sources quote United Steelworkers’ skepticism, but The New York Times emphasizes bipartisan political support in Pennsylvania more than other outlets.
Global Impact: CNN and The Washington Post cover European and UK reactions and threats of retaliation in greater detail, whereas Fox Business omits international pushback entirely.
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