‘America First’: Largest steel producer in US announces support of Trump tariffs
In a recent development, the CEO of Nucor Corp., the largest steel producer in the U.S., has come out in support of President Donald Trump’s tariffs on China, Canada, and Mexico. Leon J. Topalian, the chair, president, and CEO of Nucor Corp., expressed his approval of Trump’s America First Trade Agenda in a statement obtained by Fox News Digital.
Nucor, based in North Carolina, is a leading steel producer and scrap metal recycler in the nation. Topalian’s statement, dated Friday, highlighted the company’s commitment to working with President Trump to enforce trade laws and strengthen American manufacturing. The subject line of the letter read, “Presidential Executive Orders on Canada, Mexico, and the People’s Republic of China.”
In a recent interview with CNBC’s Jim Cramer, Topalian praised Trump’s tariffs as a means to combat “currency manipulation” and “subsidization” of steel imports from foreign countries. He emphasized the importance of preventing illegal dumping and manipulation of steel entering the U.S. market.
Trump signed an executive order on Saturday authorizing tariffs on Mexico, Canada, and China under the International Emergency Economic Powers Act. The tariffs, effective immediately, include 25% tariffs on imports from Canada and Mexico, with a 10% tariff on imports from China. Energy resources from Canada will face a lower 10% tariff.
The executive order cited “extraordinary” threats from illegal immigration, drugs, and criminal activities, particularly from Canada. Foreign leaders, including Mexican President Claudia Sheinbaum and Canadian Prime Minister Justin Trudeau, have criticized the tariffs, with Trudeau urging residents to support Canadian products.
During a press briefing at Joint Base Andrews, Trump defended the tariffs, accusing Canada of unfair trade practices and restrictions on U.S. banks and products. He emphasized the need for reciprocity in trade agreements to ensure a level playing field for U.S. businesses.
It is worth noting that former President Joe Biden also imposed tariffs during his administration, including on steel and aluminum imports from Mexico. The ongoing trade tensions underscore the complex dynamics of international trade and the importance of fair and equitable agreements for all parties involved.
For more updates on this developing story, stay tuned to Fox News Digital.
