President Joe Biden will propose higher tariffs on Chinese steel and aluminum during a visit to Pittsburgh, Bloomberg’s Josh Wingrove and Joe Deaux report. Biden will propose new 25% tariffs on certain Chinese steel and aluminum products as part of an ongoing review, while the U.S. also launches a formal probe into China’s shipbuilding industry. The U.S. President will also reiterate that U.S. Steel (X) should remain American-owned. The Fly notes that U.S. Steel shareholders have approved the proposed merger with Nippon Steel (NPSCY).
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