European Commission President Ursula von der Leyen vowed “firm and proportionate countermeasures’ in response to U.S. President Donald Trump’s decision to impose tariffs on all steel and aluminum imports, Philip Blenkinsop of Reuters reports. Trump recently signed a proclamation to raise tariffs on all steel and aluminum imports to 25%, which will take effect on March 4. Publicly traded companies in the steel space include ArcelorMittal (MT), Cleveland-Cliffs (CLF), Nucor (NUE), Steel Dynamics (STLD) and U.S. Steel (X). Companies in the aluminum space include Alcoa (AA) and Century Aluminum (CENX).
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MT:
- Trump Trade: President to impose 25% tariffs on steel, aluminum imports
- Trump to unveil 25% tariffs on all imports of steel, aluminum, Bloomberg says
- ArcelorMittal Shows Resilience in 2024 Earnings Call
- ArcelorMittal price target raised to EUR 23.50 from EUR 23 at JPMorgan
- ArcelorMittal price target raised to EUR 28 from EUR 25 at Barclays