BTSC - Are Trump's Steel And Aluminum Tariffs Good For America?
President Donald Trump’s proposed tariff on imported steel and aluminum, at 25 percent and 10 percent, is much more than a shot across the bow. Indeed, this could be the official kickoff of the trade war we all anticipated. The protectionist trade policy, announced last week as the president met with metals executives, raised fresh inflation worries and had an immediate impact on capital markets.
As expected, the winners were domestic steelmakers. AK Steel (AKS), the only manufacturer in North America that produces carbon, stainless and electrical steels, rose as much as 9.5 percent Thursday.