From Yahoo Finance: 2025-06-02 11:30:00

President Trump plans to double steel and aluminum tariffs from 25% to 50%, causing steel stocks to rise. Cleveland-Cliffs stock surged 26%, with Steel Dynamics and Nucor also jumping. The tariffs aim to protect the steel industry in the U.S., impacting prices and benefiting steel companies. The European Union is unhappy with the decision and threatens countermeasures. Analysts suggest investing in less-leveraged steel companies like Nucor and Steel Dynamics.

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