Increased tariffs on all U.S. steel and aluminum imports took effect on Wednesday, restoring effective global tariffs of 25% on all imports of the metals and extends the duties to hundreds of downstream products made from the metals, from nuts and bolts to bulldozer blades and soda cans, Reuters’ David Lawder, Andrea Shalal and Philip Blenkinsop report. President Donald Trump previously threatened a 50% Canada metals tariff rate, but backed off. Publicly traded companies in the steel and aluminum space include ArcelorMittal (MT), Cleveland-Cliffs (CLF), Nucor (NUE), Steel Dynamics (STLD) and U.S. Steel (X).
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MT:
- Navarro tells CNBC 50% Canadian steel, aluminum tariffs not being imposed
- ArcelorMittal Publishes 2024 Annual Report Highlighting Sustainable Innovations
- Trump says ‘may back off’ doubling Canada metals tariffs, Bloomberg reports
- Trump Trade: Trump says buying Tesla in show of support for Musk
- Trump says to put 50% tariffs on steel and aluminum from Canada
Questions or Comments about the article? Write to editor@tipranks.com