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On October 20, 2024, Cleveland Cleveland operates a steel mill in Cleveland, Ohio.
Dastin Franz | Bloomberg | Gets the image
The main steel reserves jumped on Monday after President Donald Trump went on metal -related tariffs.
Shares of a mining company Cleveland Cliffs Jumped about 22% after the announcement Dynamics became jumped over 13% and Nicur was more than 12%. A Waneck Steel ETF (SLX) grew more than 3%.
Trump said on Friday at the Pennsylvania rally that he would have doubled the tariffs for imported steel Up to 50% of 25%, this is a step that again lit up the tension and caused criticism from global partners.
“We will impose by 25% increase. We are going to bring it from 25% to 50% – tariffs for steel in US America, which further provide a steel industry in the US,” Trump said.
Steel reserves arise
Europe has responded to higher tariffs, saying the Trump’s plan “undermines the constant efforts to reach the negotiation decision” and that the “European Union) is ready to impose opposition.”
On Friday, Trump also welcomed what he called a “blockbuster agreement” between the steel and Japanese steel giant Nippon Steel.
He promise During the rally, when the United States became “controlled by the United States” and that there will be no dismissal. But Trump refrained from merging the transaction, which previously stated that “partnership” creates at least 70,000 jobs in the US economy.
