US steelmakers gain as Trump maintains core tariffs on metals
Portfolio Pulse from
US steel and aluminum stocks surged as President Trump decided not to impose additional tariffs on Canadian imports, despite initial proposals for extra tariffs due to Ontario's surcharge on power.
March 12, 2025 | 6:30 pm
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POSITIVE IMPACT
US Steel Corporation (X) likely benefited from the surge in steel stocks as Trump decided against additional tariffs on Canadian imports.
US Steel Corporation is a major player in the US steel industry. The decision to maintain core tariffs without adding new ones on Canadian imports likely alleviated concerns about increased competition, leading to a positive impact on its stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80