US Steel Shares Surge Following Tariff Announcement

In a significant premarket movement, United States Steel Corp. shares experienced an 11% surge on Monday. This uptick 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.

Details of the new duties were disclosed aboard Air Force One, with the President not specifying an effective date. This tariff applies universally, affecting all countries. Additionally, President Trump reaffirmed the stance against Nippon Steel's attempt to acquire a majority stake in US Steel, emphasizing the protection of domestic interests.

By 4:23 am ET, US Steel shares had climbed by 11.16%, reaching a price of $41.05, signaling a strong market reaction to the announcement.