US Steel Stocks Surge Following Tariff Announcement

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

Details of the Tariff Announcement

President Trump revealed the new duties, which will apply to all countries, aboard Air Force One. While the specifics regarding the implementation timeline remain unclear, the President made it clear that Japanese firm Nippon Steel will not be permitted to acquire a majority stake in US Steel.

Market Reaction

By 4:23 am ET, the shares of US Steel had increased by 11.16%, trading at $41.05. This significant uptick reflects the market's immediate response to the tariff announcement, highlighting the potential impact on the steel industry and related sectors.