US EditionUS Steel, Aluminum Stocks Rally As Trump Revives 25% Tariff Plan - Alcoa (NYSE:AA), Century Aluminum (NASDAQ:CENX)
- President Donald Trump revealed a plan to increase tariffs on imported foreign steel and aluminum, doubling the current rate from 25 percent up to 50 percent, with the changes set to begin this Wednesday in the United States.
- The tariff hike responds to concerns over unfair foreign competition and follows recent court rulings that question some existing tariffs’ legality.
- Experts expect the price increase to affect a wide range of products including cars, canned goods, and major home appliances relying on steel and aluminum inputs.
- William Hauk said the new tariff could add $2,000 to $4,000 to car prices and raise grocery costs by about one cent per aluminum can, while Kyle Handley called fifty percent tariffs 'incredibly high.'
- The tariff increase may boost domestic metal producers but could also raise costs for consumers and reignite trade tensions with US allies like Canada and Mexico.
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21 Articles
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Center
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Right
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Coverage Details
Total News Sources21
Leaning Left3Leaning Right2Center4Last UpdatedBias Distribution44% Center
Bias Distribution
- 44% of the sources are Center
44% Center
L 33%
C 44%
R 22%
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