US Steel Shares Surge Following Tariff Announcement

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

Details of the Tariff Announcement

President Trump disclosed the new duties aboard Air Force One, stating that the tariffs would be applicable to all countries. However, the exact implementation date remains unspecified. Furthermore, Trump emphasized that Nippon Steel, a Japanese firm, would not be permitted to acquire a majority stake in US Steel, reinforcing his commitment to protecting American industries.

Market Reaction

By 4:23 am ET, US Steel shares had climbed by 11.16%, reaching a price of $41.05. This premarket activity indicates a strong investor response to the tariff announcement, highlighting the potential impact of such policies on domestic industries and the broader market.