Trump Plans to Double Steel and Aluminum Tariffs to 50%
TL;DR Summary
President Trump announced an increase in steel tariffs from 25% to 50%, boosting steel-related stocks like Cleveland Cliffs and U.S. Steel, amid a deal between U.S. Steel and Nippon Steel. The move aims to support domestic steel profits, but analysts express caution over the valuation and potential risks of the deal, which has yet to close.
- Trump Says Steel Tariffs Will Increase to 50%. Cleveland- Cliffs Stock Soars. Barron's
- Trump says he plans to double steel, aluminum tariffs to 50% Reuters
- Trump to Hike Steel, Aluminum Tariffs to Aid Nippon-US Steel Bloomberg
- President Trump raises steel tariffs to 50%; PBS sues administration NBC News
- Trump leaves US Steel deal details up in the air, but raises steel tariffs Axios
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