Kathmandu. Us President Donald Trump has announced that from June 4, the US will increase tariffs on steel and aluminium imports from 25 percent to 50 percent.
Speaking at an event in Pittsburgh, Pennsylvania, Trump said the move would boost local steel industry and national production and reduce dependence on China. Trump said the partnership between U.S. Steel and Japan’s Nippon Steel would invest $14 billion in steel production in the region. ’
Details of the partnership are unclear and the two companies are yet to confirm the agreement.
“There will be no layoffs and no outsourcing, and every American steel worker will soon receive the $5,000 bonus they deserve,” Trump said. ‘-agency
