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President Trump says his plan to double to 50% the tariff on foreign steel in a planned partnership with Japan's Nippon Steel will put those who work in the industry in a better position.
Steel workers are very happy.
We did the tariffs.
It's going to make them even more competitive.
and it's turning out to be a great deal.
I think it's going to be a fantastic deal.
President Trump spoke to reporters after returning to the nation's capital last night from Pittsburgh.
He said the new tariff would go into effect next week.
On social media, he said the increase would also apply to aluminum imports.
Trump traveled to Pittsburgh to tout the agreement with Nippon Steel to give a boost to the storied steelmaker U.S.
Steel.
But some details of the arrangement remain unclear.
More business leaders and lawmakers are sounding the alarm about how President Trump's tariffs could hurt the economy.