US President Trump announced a tariff hike on steel and aluminum imports from 25% to 50%, effective Wednesday, aiming to protect US industry and cut dependence on China. At a Pittsburgh rally, he promoted a USD 14 bln Nippon Steel investment and promised USD 5,000 bonuses for US steelworkers, despite admitting he hadn’t reviewed the deal. Concerns were raised over union contracts, while the EU warned of possible retaliation, stoking fears of renewed trade tensions.