President Donald Trump said he is going to double the tariff rate on steel from 25% to 50%, a dramatic increase that could further increase prices for the metal used to make housing, autos and other goods.

Trump was speaking at U.S. Steel’s Mon Valley Works–Irvin Plant in West Mifflin, Pennsylvania, to announce investments by Japan’s Nippon Steel .

The price of steel products has increased roughly 16% since he became president, according to the government’s producer price index.

Also Friday, Trump hosted an Oval Office news conference alongside billionaire and Department of Government Efficiency architect Elon Musk . The world’s richest man is leaving his job having accomplished far less than he set out to do, although his tumultuous tenure will likely leave a lasting mark o

See Full Page