Markets Don’t Like US Steel Stocks despite Trump’s Support
Earlier in 2018, President Trump slapped a 25% tariff on US steel imports and a 10% tariff on aluminum imports. For US steel and iron ore producers like U.S. Steel Corporation (X), AK Steel (AKS), and Cleveland-Cliffs (CLF), the higher level of imports is their greatest challenge. The companies said that the imports are unfairly subsidized by foreign governments.