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ISTANBUL
US President Donald Trump’s remarks on imposing tariffs on steel and aluminum imports boosted the stock prices of US steel and aluminum manufacturers on Monday.
Stocks of US Steel rose 3.54%, Cleveland-Cliffs 12.9%, and Nucor 5.5% as of 1640GMT.
The stock price of aluminum producer Alcoa also rose 2.7%.
US steel and aluminum imports reached $109.5 billion in 2023, mainly from Canada, China, and Mexico, three countries Trump has threatened with tariffs.
Trump said on Sunday that he will announce a 25% tariff on all steel and aluminum imports entering the country on Monday.
