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Steel, aluminum execs headed to White House for possible announcement

Published 03/01/2018, 07:31 AM
© Reuters.  Steel, aluminum execs headed to White House for possible announcement
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  • Pres. Trump has summoned steel and aluminum executives on short notice for a White House meeting today for a possible announcement of steps to crack down on imports, according to multiple reports.
  • But other sources say the new policies had not been completed as of last night and that the session merely could be a meeting to discuss possible alternatives.
  • Today’s news comes two weeks after the Commerce Department released a report saying steel and aluminum imports undermine U.S. military needs and laid out three options for Trump to consider, including global tariffs and quotas; Trump has been said to favor the harshest possible tariffs.
  • X +4.2%, AKS +6.6%, CLF +3%, AA +1.1% premarket.
  • Other relevant tickers include NUE, STLD, CMC, MT, RS, TMST, TS, ZEUS, WOR, SCHN, ARNC, CENX, KALU, CSTM
  • ETFs: SLX, JJU, FOIL
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