US Steel Shares Surge Following Tariff Announcement

In a significant premarket movement, United States Steel Corp. shares experienced an 11% surge on Monday. This leap comes in the wake of President Donald Trump's declaration of a 25% tariff on all steel and aluminum imports, a move that has sent ripples through the market.

President Trump, while aboard Air Force One, unveiled the new duties that will impact all countries. Although the exact implementation date remains unspecified, the announcement has already influenced market dynamics. Furthermore, Trump emphasized that Nippon Steel, a Japanese firm, would not be permitted to acquire a majority stake in US Steel, reinforcing his administration's stance on domestic industry protection.

By 4:23 am ET, US Steel shares had climbed by 11.16%, reaching a price point of $41.05. This notable increase underscores the immediate impact of Trump's tariff announcement on the steel industry's stock performance.