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U.S. steelmakers eyed after report of potential 20% import tariffs

Published 06/30/2017, 09:08 AM
© Reuters.  U.S. steelmakers eyed after report of potential 20% import tariffs
  • U.S. steelmakers are on watch today after Axios reports Pres. Trump and a few top advisers are "hell-bent" on imposing tariffs on steel imports of as much as 20%, despite opposition from nearly the entire Trump Cabinet.
  • Penalties eventually could be extended to other imports, including aluminum, semiconductors, paper and household appliances, according to the report.
  • Trump reportedly was warned that an affected industry such as automakers likely would seek a court injunction within hours of any tariffs on steel.
  • However, WSJ reports Trump is set to miss a self-imposed Friday deadline for concluding a major report on of the national security implications of steel imports amid complaints from lawmakers and businesses.
  • Potentially relevant tickers: X, AKS, NUE, CLF, MT, STLD, SLX, F, GM
  • Now read: There May Be Even Worse News For GM And Ford From Lyft Shuttle


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