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Trump now says he will impose steel, aluminum tariffs next week

Published 03/01/2018, 12:47 PM
© Reuters.  Trump now says he will impose steel, aluminum tariffs next week
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  • Steel and aluminum names turn higher after Pres. Trump, in a meeting at the White House with company leaders, says he will impose tariffs on imported steel and aluminum - 25% for steel and 10% for aluminum - and will sign the measure next week.
  • Trump's remarks followed confusion as Trump looked set to announce the tariffs as industry CEOs were sent a last-minute invitation to the White House for a meeting with the president, then later reports suggested no news was coming today.
  • Related stocks are now surging to highs of the day: X +7.7%, AKS +10%, NUE +3.9%, CLF +8.7%, STLD +4.4%, CMC +5.7%, RS +3.8%, WOR +2.7%, MT +0.3%, SCHN +3.2%, TS +2.3%, TMST +4.8%, GGB +5.9%, ZEUS +4.7%, AA +2.6%, CENX +10.7%, KALU +2.2%, CSTM +3%.
  • ETFs: SLX, JJU, FOIL
  • Now read: It Takes Powell To Convince The Market That Yellen Was Right


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