President Donald Trump is holding a rally in Pennsylvania on Friday to celebrate a details-to-come deal for Japan-based Nippon Steel to invest in U.S. Steel, which he says will keep the iconic American steelmaker under U.S.-control. ICE, the agency tasked with carrying out Trump’s mass deportation campaign is undergoing a major staff reorganization. And billionaire Elon Musk faces big challenges as he leaves Washington after an Oval Office appearance Friday afternoon.
Here’s the Latest:
Trump accuses China of violating agreement on trade
Trump declared that he’ll no longer be “Mr. NICE GUY” with China on trade.
He said the country had broken an agreement with the United States. It’s unclear what agreement Trump was referring to in his post on Truth Social.
But the president’s rhetoric was a sharp break from the optimism expressed recently when Trump lowered his 145% tariffs on Chinese goods to 30% for 90 days so that talks could happen.
Trump said the tariff reduction had “quickly stabilized” the economy. But he then said “that China, perhaps not surprisingly to some, HAS TOTALLY VIOLATED ITS AGREEMENT WITH US. So much for being Mr. NICE GUY!”
Trump to appear with Musk in Oval Office
When Musk announced that he was leaving the administration earlier this week, Trump was conspicuously quiet. But now the two men are scheduled to appear together in the Oval Office.
“This will be his last day, but not really, because he will, always, be with us, helping all the way,” Trump wrote on Truth Social on Thursday evening. “Elon is terrific!”
The event is scheduled for 1:30 p.m. ET.
Musk will likely leave a lasting mark on the federal government.
Trump holding Pennsylvania rally to promote deal for Japan-based Nippon to ‘partner’ with US Steel
Trump is holding a rally in Pennsylvania on Friday to celebrate a details-to-come deal for Japan-based Nippon Steel to invest in U.S. Steel, which he says will keep the iconic American steelmaker under U.S.-control.
Though Trump initially vowed to block the Japanese steelmaker’s bid to buy Pittsburgh-based U.S. Steel, he changed course and announced an agreement last week for what he described as “partial ownership” by Nippon. It’s not clear, though, if the deal his administration helped broker has been finalized or how ownership would be structured.
Trump stressed the deal would maintain American control of the storied company, which is seen as both a political symbol and an important matter for the country’s supply chain, industries like auto manufacturing and national security.
U.S. Steel has not publicly communicated any details of a revamped deal to investors. Nippon Steel issued a statement approving of the proposed “partnership” but also has not disclosed terms of the arrangement.
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