Trump announces an increase in steel tariffs and support for the "US Steel" deal.

President Donald Trump announced on Friday, May 30th, the increase of tariffs on steel imports to the United States from 25% to 50%, aiming to boost local industry and protect American jobs.

The announcement was made during a speech at the "U.S. Steel" plant in West Mifflin, Pennsylvania, where he stated: "We will impose a 25% increase. We will raise tariffs on imported steel to the United States from 25% to 50%, which will strengthen the steel industry and secure jobs in the United States."

Trump emphasized the importance of the steel sector to the national economy, saying: "If you don't have steel, you don't have a country... That's why I fought for the American steelworker like no president has fought before; that's why I got your votes like no president has before."

During his speech, the American President expressed his support for the partnership agreement between "U.S. Steel" and the Japanese company "Nippon Steel," worth $14 billion, confirming that the American company will remain locally owned and based in Pittsburgh.

Trump explained that the deal includes a "golden share" for the U.S. government to ensure continued oversight, describing it in a previous post on his platform "Truth Social" dated May 23rd as a "partnership."

He added: "The headquarters of 'U.S. Steel' will remain in Pittsburgh, and 'Nippon Steel' will invest $14 billion over 14 months in this long-standing American industrial company with a history of over 120 years."

He also praised the prospects of American workers, saying: "The future of American workers is getting brighter... We are on the verge of enacting the largest tax cuts for the working class in America's history."

Despite Trump's statement to journalists on Sunday that the deal is an "investment, it's a partial ownership, but it will be under U.S. control," the White House and the companies involved have provided few details to the public about the structure of the agreement since its announcement.

Meanwhile, "U.S. Steel" described the deal in its filing submitted to the Securities and Exchange Commission on April 8th as a "merger," where it will become a "wholly-owned subsidiary" of "Nippon Steel North America," but will continue to operate as a separate entity.