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Report: Trump weighs potentially explosive steel, aluminum import tariffs

Published 04/10/2017, 10:37 AM
© Reuters.  Report: Trump weighs potentially explosive steel, aluminum import tariffs
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  • AK Steel (AKS -6.6%) and other steel and aluminum producers (SLX -0.3%) are lower following a report that the Trump administration is considering "potentially explosive" steel and aluminum import tariffs.
  • Axios reports that the administration is working on an executive order that would initiate investigations into "unfair" product dumping from foreign companies, an action that could lead to tariffs on a wide range of products.
  • Notable Calls opines that such action could significantly boost U.S. Steel (X -1.1%) and aluminum producers such as Alcoa (AA -0.9%), as it would drive up pricing.
  • But sector shares now are broadly lower, including: RS -0.3%, NUE -0.4%, MT -0.6%, CLF -1.2%, STLD -1.6%.


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