WASHINGTON — US President Donald Trump announced Friday a sharp increase in tariffs on imported steel and aluminum, raising the rate from 25% to 50%, in a bid to bolster American manufacturing and close what he described as loopholes exploited by foreign competitors.

Speaking at a rally held at a U.S. Steel facility in Pittsburgh, Pennsylvania, Trump told supporters and industry stakeholders: “We are going to be imposing a 25% increase. We're going to bring it from 25% to 50%... which will even further secure the steel industry in the United States. Nobody's going to get around that.”

Trump argued that the previous tariff rate allowed some importers to bypass the intended protections.

“At 25%, they can sort of get over that fence. At 50%, they can no longer get over the fence,” he said, calling it “a great deal” for American producers.

Addressing investors in the domestic steel sector, the president emphasized his commitment to economic nationalism and industrial revival, adding: “I said the tariff to me is the most beautiful word in the dictionary.” — Agencies