00:00So soon after initially taking office, I imposed powerful 25 percent tariffs on all foreign steel
00:12and ended each and every one of the Biden exceptions and exclusions. And today I have
00:18a major announcement. And are you ready to hear this? This is on behalf of Scott, Secretary of
00:26Treasury, Howard Lutnick, Secretary of Commerce, and all of the great geniuses and people we
00:35have working. And they are smart, but I don't think you'd be a good steel worker, Scott. I'm sorry.
00:40I'm going to have to put a little more muscle content into that guy. But he's great. He's great
00:45at what he does. We are going to be imposing a 25 percent increase. We're going to bring it from
00:5425 percent to 50 percent the tariffs on steel into the United States of America, which will
01:01even further secure the steel industry in the United States. Nobody's going to get around that.
01:10So we're bringing it up from 25 percent. We're doubling it to 50 percent. And that's a loophole.
01:19And by the way, I have to tell you, I believe that this group of people that just made this
01:24investments right now are very happy because that means that nobody's going to be able to
01:29steal your industry. It's at 25 percent, they can sort of get over that fence. At 50 percent,
01:37they can no longer get over the fence. So congratulations to everybody and to you
01:43for making a great deal. You just made a better deal, right?
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