Steel stocks Cleveland Cliffs rose over 9% after hours, Nucor rose over 4%, and the U.S. will double the steel import tariff to 50% next week
U.S. steel stocks performed strongly in after-hours trading, with Cleveland Cliffs rising over 9% and Nucor rising over 4%. The U.S. White House announced it would double steel import tariffs to 50%, triggering market reactions
Cleveland-Cliffs Inc., a steel company in Ohio, USA, saw its stock price surge by 9.43% in after-hours trading, while Nucor rose by 4.24% and Steel Dynamics Inc. increased by 1.57%. U.S. President Trump promoted a 25% steel tariff in Pittsburgh, claiming he would raise the import tax to 50%. The White House subsequently announced that it would double the steel import tariff to 50% next week.
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