From Financial Modeling Prep: 2025-06-03 07:55:00

Former President Donald Trump announced a tariff increase on steel imports from 25% to 50% during a Pennsylvania rally to boost the domestic steel industry and support a major deal between Nippon Steel and U.S. Steel.

Steel stocks surged in premarket trading post-announcement:
– Cleveland-Cliffs Inc (NYSE:CLF) soared over 25%
– Nucor Corp (NYSE:NUE) rose 11%
– Steel Dynamics Inc (NASDAQ:STLD) gained 5.9%

Nippon Steel plans a $14 billion investment in U.S. Steel, including $2.2 billion for Mon Valley, $7 billion for facility upgrades, and $5,000 bonuses for workers, ensuring job protection and operational continuity.

The tariff hike may impact trade and inflation. Investors can track the steel industry via the Balance Sheet Statements API for operational insights or the Industry P/E Ratio API to benchmark valuation changes in metals and mining. Trump’s trade stance adds political risk and industry support to market dynamics.



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