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U.S. Steel, AK Steel jump on report that Trump wants 24% steel tariff

Published 02/23/2018, 05:58 PM
Updated 02/23/2018, 05:58 PM
© Reuters.  U.S. Steel, AK Steel jump on report that Trump wants 24% steel tariff
  • Steel and aluminum names are higher after-hours as Pres. Trump reportedly has told confidants that he wants to impose the harshest possible tariffs on imports: X +5.2%, AKS +4.9%, CENX +3.7%, STLD +1.4%, MT +1.1%, AA +1%, NUE +0.3%, KALU +0.3%.
  • Trump is said to want to a 24% global tariff on steel imports, the most severe of three options presented to him by the Commerce Department in a report last month, and is considering as much as a 10% duty on all aluminum entering the U.S., which would be higher than the recommendations.
  • White House officials say the process is ongoing.
  • ETFs: SLX, JJU, FOIL
  • Now read: Treasury Yield Breakout Portends Bright Future For Base Metals


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