US President Donald Trump says he’s doubling the tariff rate on aluminium and steel to 50% from Wednesday. | ITV National News

The president said he is doubling duties on steel imports while talking up U.S. Steel's deal with Japan's Nippon Finer details ... to boost the U.S. steel industry. The move comes after Trump's ...

Steel and all of its stakeholders, including the American steel industry, and the broader American manufacturing base,” Nippon added ... speculate about the impact of today’s announcement ...

Nippon proposed ... because of its alleged impact on U.S. national security. At the time, an administration spokesperson said he acted to safeguard the domestic steel industry.

President Donald Trump approved the $14.9 billion sale of U.S. Steel to a Japanese company despite promising before last year's election to block it. However, a union representing thousands of steel workers in Indiana continues to raise concerns about the deal and how it could impact workers.

President Donald Trump cleared Nippon’s bid for U.S. Steel on Friday, referring to the deal as a “partnership.”

Jefferies downgraded Cleveland-Cliffs (NYSE:CLF) to Hold from Buy, citing growing risks tied to steel price volatility and an increasingly uncertain outlook for the U.S. steel market following Nippon Steel’s (TYO:5401) $14 billion investment commitment into United States Steel Corporation (NYSE:X).

President Donald Trump’s pivot to champion Nippon Steel Corp.’s bid to buy US Steel Corp. raises the prospect of fresh positive momentum for Japan’s sluggish negotiations with the US over tariff relief.