US EditionTrump tells US steelworkers he’s going to double tariffs on foreign steel from 25% to 50%
- On May 30, 2025, U.S. President Donald Trump declared at a rally near Pittsburgh that the duties on imported steel and aluminum would be increased to 50%, with the new rates taking effect June 4.
- The tariff hike comes after a March 2018 decision to impose duties of 25% on steel and 10% on aluminum imports, justified by national security concerns under a provision of the Trade Expansion Act.
- Steel prices in the U.S. Have risen about 16% since Trump became president, reaching $984 per metric ton by March 2025, significantly higher than Europe's $690 per ton.
- Trump stated that increasing steel tariffs to 50% would strengthen the U.S. Steel sector, while Canadian officials and labor leaders criticized the move as unjustified and warned it could harm their economy.
- The tariff increase aims to protect U.S. Steel manufacturing and jobs but may raise costs for industries relying on imported metal and escalate trade tensions with key partners like Canada.
236 Articles
236 Articles
Steel and Aluminum Stocks Surge After Tariff Announcement
President Trump announced Friday that steel and aluminum tariffs will double from 25% to 50%, calling the move a cornerstone of his "America First" agenda to revive U.S. manufacturing. The tariffs, set to take effect Wednesday, sparked a sharp rally in U.S. metal stocks in premarket trading as investors bet on stronger domestic production and profits. Trump visited a U.S. Steel plant near Pittsburgh at the end of last week to promote a pending p…
Closing Bell: Applied Digital Rises, Tesla Falls on France Sales, Steelmakers Surge - Stock Movers
On this episode of Stock Movers: Listen for comprehensive cross-platform coverage of the US market close as heard on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Scarlet Fu, Tim Stenovec and Emily Graffeo. Shares of Steel Dynamics (STLD) rose along with other US-based steelmakers as traders continued to react to President Donald Trump's Friday announcement of higher tariffs on steel and aluminum. Trump hopes the incr…
The AEX is trading lower on Monday afternoon on the first trading day of June. Chip funds are pulling the index down, while NN is gaining after an advisory increase and Shell is profiting from the rising oil price. Steel companies are gaining heavily on Wall Street after President Trump's doubling of import duties, but the Dow is nevertheless slightly in the red.
Dow Jones Industrial Average (DJIA) Live June 2: Higher Steel Tariffs Send DJIA Lower
Live Updates Live Coverage Updates appear automatically as they are published. Manufacturing Activity in the U.S. Contracts in May 10:25 am U.S. ISM (Institute for Supply Management) data show a third straight month of decline for the U.S. in May. This index broadly describes whether manufacturing activity in the U.S. is expanding (over 50) or contracting (under 50). From a recent high of 50.3 in February (still expanding), the index has ste…
American steelmakers surge after Trump doubles tariffs on imported steel, aluminum to 50%
Shares of U.S. steel producers rally in pre-market trading, including Cleveland-Cliffs, Steel Dynamics and Nucor, after President Trump raised tariffs on imported steel and aluminum.
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