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    Trump Aides Insist That Tariffs Will Remain, Even After Court Ruling

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    One official said that the president is unlikely to delay his initial 90-day pause on some of his highest rates.President Trump’s top economic advisers stressed on Sunday that they would not be deterred by a recent court decision that declared many of the administration’s tariffs to be illegal, as they pointed out a variety of additional authorities that the White House could invoke as it looks to pressure China and others into negotiations.They also signaled that Mr. Trump had no plans to extend an original 90-day pause on some of his steepest tariff rates, raising the odds that those duties — the mere announcement of which had roiled markets — could take effect as planned in July.“Rest assured, tariffs are not going away,” Howard Lutnick, the commerce secretary, said during an appearance on “Fox News Sunday.”Asked about the future of the president’s so-called reciprocal tariffs, first announced and quickly suspended in April, Mr. Lutnick added, “I don’t see today that an extension is coming.”The president’s tariff strategy entered uncharted political and legal territory last week after a federal trade court ruled that Mr. Trump had misused an emergency economic powers law in trying to wage a global trade war.The decision would have put a quick halt to those duties, which form the centerpiece of the president’s strategy of pressuring other countries into trade talks. But an appeals court soon granted the government a brief administrative pause to sort out arguments in the case, which is expected to reach the Supreme Court.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Trump Pledges to Double Tariffs on Foreign Steel and Aluminum to 50%

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      President Trump made the announcement at a U.S. Steel factory outside Pittsburgh.President Trump said on Friday that he would double the tariffs he had levied on foreign steel and aluminum to 50 percent, a move that he claimed would further protect the industry.The announcement came as Mr. Trump traveled to a U.S. Steel factory outside Pittsburgh to hail a “planned partnership” that he helped broker between U.S. Steel and Nippon Steel, a corporate merger that he opposed last year as a presidential candidate. Although the details of the U.S. Steel deal are still murky — and Mr. Trump later admitted he had not yet seen or signed off on it — the president used the moment to cast himself as a champion of the embattled industry.Speaking to a crowd of steel workers, Mr. Trump claimed that foreign countries had been able to circumvent the 25 percent tariff he put in place this year. The higher tariffs would “even further secure the steel industry in the United States,” Mr. Trump said.It is not clear how much doubling the tariff rate would actually bolster the domestic steel sector, but the move gave Mr. Trump the opportunity to wield tariffs at a time when his other import taxes have proved vulnerable to legal challenges.In a post on Truth Social, Mr. Trump said that the tariffs would take effect on June 4 and that they would provide a “big jolt” to American steel and aluminum workers.Mr. Trump has in recent weeks announced large tariffs only to quickly reverse himself and pause them. Analysts suggested on Friday that Mr. Trump could be seeking new ways to gain leverage over trading partners as the pace of negotiations has proved to be painfully slow.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      British Government Takes Control of Country’s Last Major Steel Mill

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      London says it acted to prevent the plant’s Chinese owners from closing the plant, threatening jobs and national security.The British government moved swiftly on Saturday to take control of operations at the country’s last large crude steel producing facility, in what appeared to be a major step toward nationalizing the plant.In an unusual and dramatic move, the government had summoned lawmakers back from vacation on Saturday to approve the government’s emergency legislation.The government said it was acting to prevent the owners of the British Steel complex in Scunthorpe, a Chinese company called Jingye, from taking steps unilaterally to close the blast furnaces, potentially costing 2,700 jobs.“Steel is fundamental to Britain’s industrial strength, to our security and to our identity as a primary global power,” Jonathan Reynolds, the business and trade secretary, told Parliament on Saturday in introducing the legislation.Members of the Unite and Community unions marched in Scunthorpe on Saturday.Ryan Jenkinson/Getty ImagesDespite the interest in preserving steel making now, it has long been in decline in Britain. Crude steel output has fallen by about 50 percent over the last decade, according to UK Steel, a trade group.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Trump’s Tariffs Could Deal a Blow to Boeing and the Aerospace Industry

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      Aerospace companies are big exporters but also very reliant on a global supply chain, making them vulnerable.Boeing is the kind of manufacturer — one that exports billions of dollars of goods — that President Trump says he wants to protect and nurture.But his tariffs could have the opposite effect on the company’s suppliers.Mr. Trump has imposed a few tariffs so far, but he says more are coming in just a few weeks. That threat has unnerved the aerospace industry, of which Boeing is one of the largest companies. Duties on aluminum and steel, two of the most important raw materials used in aircraft, are expected to raise manufacturing costs. But the industry is far more concerned by tariffs that take effect on goods from Canada and Mexico next month, which could disrupt the highly integrated North American supply chain.“These tariffs are particularly fraught for an industry like aerospace that has been duty-free for decades,” said Bruce Hirsch, a trade policy expert at Capitol Counsel, a lobbying firm in Washington, which has aerospace clients. “Parts are coming from everywhere.”Aerospace experts say the industry is an example of U.S. manufacturing prowess. It offers well-paying jobs and has produced one of the largest trade surpluses of any industry for years. Aerospace is expected to export about $125 billion this year, according to IBISWorld, second only to oil and gas.But the industry is operating under a cloud of uncertainty. Many companies have been able to avoid costly cross-border tariffs under a short-term reprieve for products covered by a North American trade agreement that Mr. Trump negotiated in his first term. But that deal expires in April.In a letter to administration officials last week, groups representing airlines, plane repair stations, suppliers and manufacturers asked for an exception to the tariffs, arguing that it was needed to keep the industry competitive on the global market.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Oil Companies Wanted Trump to Lower Costs. Tariffs Are Raising Them.

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      President Trump’s promise during last year’s election to make it far easier to drill for oil and gas thrilled energy executives who believed his policies would lower their costs and help them make a lot more money.Those hopes are now fading. Thanks to Mr. Trump’s tariffs, the oil and gas industry is contending with rising prices for essential materials like steel pipes used to line new wells.That has not yet translated into a meaningful change in U.S. drilling activity or production expectations, but companies have begun revising budgets to reflect higher materials costs. Decisions made today about which wells to drill will affect production many months from now.Oil refineries are separately bracing for a tariff on Canadian oil, which some of them need to produce gasoline, diesel and other fuels.At the same time, consumers have grown jittery about the economy and the price of oil has fallen about 10 percent since just before Mr. Trump took office, to around $70 a barrel. Oil companies tend to drill less when prices fall.The combination could complicate Mr. Trump’s stated desire to juice U.S. oil and natural gas production, which are already at or near record highs.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Markets Play Down the Hit From Trump’s Latest Trade Fight

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      Global markets are in a wait-and-see mode as President Trump vows to slap steel and aluminum tariffs, among other levies, on trading partners.President Trump has ramped up the tariff war. This time, the markets reaction has been muted.Pete Marovich for The New York TimesHope you enjoyed the Super Bowl on Sunday night, and congrats to the Philadelphia Eagles. The ads were better than the game. We’ve got a rundown below.I got into a substantive debate on Sunday with Joe Lonsdale, the venture capitalist and co-founder of Palantir, and other investors, about how carried interest is taxed. President Trump has vowed to eliminate the tax exemption, which I’ve been writing about since 2007. You can read excerpts from the debate below.The new phase of the tariff fight Get ready for the latest round of President Trump’s trade wars.On Air Force One on Sunday, en route to the Super Bowl, the president said he would impose a 25 percent levy on all steel and aluminum imports and that reciprocal tariffs on trading partners were coming.China has already retaliated against new Trump tariffs that took effect on Monday, leaving the global economy to grapple with the reality of worldwide trade battles.The latest: Beyond the metals levy — which is aimed squarely at China — Trump is also eyeing broad tariffs on Europe, Taiwan and others, as well as on industries and key commodities like copper, pharmaceuticals and semiconductors.Beijing has retaliated with $14 billion worth of tariffs against select American exports, including, coal, liquid natural gas and farm equipment, a sign that the trade war could expand quickly. “Trade and tariff wars have no winners,” Guo Jiakun, a spokesman for China’s foreign ministry, said on Monday.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Steel Maker ThyssenKrupp to Slash 11,000 Jobs in Germany

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      The venerable steel producer, which has been struggling against high energy prices at home and growing competition from abroad, is the latest company in Europe to cut its work force.ThyssenKrupp, the largest steel maker in Germany, said Monday that it would eliminate up to 11,000 jobs by 2030, a decision that comes as the country struggled to overcome economic weakness that has hindered growth for nearly two years.The overhaul is aimed at returning ThyssenKrupp to profitability in the face of pressure from Asian competitors and high energy prices. Compounding the challenges, President-elect Donald J. Trump has threatened to impose tariffs on all goods imported to the United States. ThyssenKrupp was among those hurt by the tariffs Mr. Trump imposed on steel and aluminum during his first term in office.ThyssenKrupp said that it would reduce the amount of steel it produced each year down to no more than 10 U.S. tons, from the current level, 12.6 U.S. tons, which would allow it to eliminate 5,000 jobs. Another 6,000 jobs will be cut through the sale of business activities or turning to external providers, the company said without elaborating.“Urgent measures are required to improve ThyssenKrupp Steel’s own productivity and operating efficiency and to achieve a competitive cost level,” the company said in a statement.On Tuesday, ThyssenKrupp reduced the value of its steel division by 1 billion euros, or $1.04 billion, after posting a yearly net loss of €1.4 billion, or $1.2 billion. The company has been struggling for years to decarbonize its steel production, as the price of powering its existing coking plants has soared.Germany, Europe’s largest economy, has not had significant growth in the past two years. On Friday, the economy recorded 0.1 percent growth from July to September, but it was forecast to contract over the entire year. Economists do not expect to see a return to growth in 2025, unless the government can make significant changes quickly.Dozens of companies have announced plans over the past few months to reduce their work forces in Germany. On Friday, the auto supplier Bosch said it would cut 5,500 jobs beginning in 2027. Ford Motor said Wednesday it would eliminate 4,000 jobs in Europe, primarily in Germany.Workers at Volkswagen, Germany’s biggest automaker, are planning to begin staging warning strikes in the coming days, as they fight management plans to reduce their numbers and close up to three of the company’s 10 factories in Germany. In October, Volkswagen reported a 42 percent drop in quarterly profit and warned of an “urgent need” to cut costs amid growing competition from Chinese automakers. More

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      Biden Looks to Thwart Surge of Chinese Imports

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      The president has proposed new barriers to Chinese electric vehicles, steel and other goods that could undermine his manufacturing agenda.President Biden is warning that a new surge of cheap Chinese products poses a threat to American factories. There is little sign of one in official trade data, which show that Chinese steel imports are down sharply from last year and that the gap between what the United States sells to China and what it buys is at a post-pandemic low.But the president’s aides are looking past those numbers and fixating on what they call troubling signs from China and Europe. That includes data showing China’s growing appetite to churn out big-ticket goods like cars and heavy metals at a rate that far exceeds the demand of domestic consumers.China’s lavish subsidies, including loans from state-run banks, have helped sustain companies that might otherwise have folded in a struggling domestic economy. The result is, in many cases, a significant cost advantage for Chinese manufactured goods like steel and electric cars.The U.S. solar industry is already struggling to compete with those Chinese exports. In Europe, the problem is much broader. Chinese exports are washing over the continent, to the chagrin of political leaders and business executives. They could soon pose a threat to some of the American companies that Mr. Biden has tried to bolster with federal grants and tax incentives, much of which comes from his 2022 climate law, U.S. officials warn.In an effort to avoid a similar fate, Mr. Biden has promised new measures to shield steel mills, automakers and other American companies against what he calls trade “cheating” by Beijing.European officials are struggling to counter the import surge, an issue they focused on this week when President Xi Jinping of China visited the continent for the first time in five years. In a meeting on Monday with Mr. Xi and President Emmanuel Macron of France, Ursula von der Leyen, the European Commission president, urged Mr. Xi to address the wave of subsidized exports flowing from his nation’s factories into Western countries.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      When Richard Serra’s Steel Curves Became a Memorial

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      The sculptor had a breakthrough in the late 1990s with his torqued metal rings. Then the attack on the World Trade Center, which Serra witnessed, gave them a sudden new significance.After the yelling, the hearings, the lawsuit, the dismantlement, Richard Serra entered the last decade of the last century with his mind cast toward the classics.He was happy to see the end of the ’80s. The American sculptor, who died Tuesday at 85, got caught up in the Reagan-era culture wars with “Tilted Arc,” a 120-foot plate of curved Cor-Ten steel that sliced across Manhattan’s Federal Plaza. It drew outrage almost as soon as it was installed in 1981. His fellow New Yorkers shouted at him on the street. People called his loft on Duane Street with death threats. (This newspaper, too, was not always kind.) The work was finally removed — in Serra’s estimation, destroyed — in March 1989. You could see the appeal of a trip to Italy.In Rome, he visited San Carlo alle Quattro Fontane: a chapel designed by Francesco Borromini that’s one of the prizes of Baroque architecture, topped by an oval dome. “The central space is simply a regular ellipse, and the walls that surround it are vertical,” he would later recall. “I walked in and thought: what if I turn this form on itself?”Serra’s “Tilted Arc” (1981), in Federal Plaza in Lower Manhattan. After a yearslong battle it was dismantled in 1989.Richard Serra/Artists Rights Society (ARS), New York; Photo by Chester Higgins Jr./The New York TimesBack in New York, after consulting with engineers and trying out new computer-aided design software, he created a sculptural form that had not existed before: free-standing plates of weatherproof steel whose top and bottom edges form two identical, misaligned ellipses. The rolled steel weighed some 20 tons, but had a finesse that belied their mass. They had the can-you-top-this confidence of an artist who saw Borromini as his peer, but they were more inviting than Serra’s previous steel works, beckoning you to explore their warmly patinated expanses.The torqued ellipses, quite literally, shifted the axis of Serra’s career: from solid to space, from process to perception, from the artist’s actions to the viewer’s bodily experience. Their enclosing volumes provided this once controversial, always gruff artist an unexpectedly congenial third act; the ellipses at the Dia Art Foundation in Beacon, N.Y., have become a reliable venue for second dates, an ideal backdrop for cultured flirtation. Whereas for me the ellipses have remained these past decades something more like empty tombs, wedded in my mind to another site of deformed steel, and to the life of an artist who experienced Sept. 11, 2001, with horrible immediacy.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More