Why US Steel Stocks Continue to Sag

Why US Steel Stocks Continue to Sag

The US steel industry has been plagued by higher imports that are allegedly subsidized by foreign governments. US steel companies were relieved when President Trump imposed the Section 232 tariffs on US steel imports earlier this year. The tariffs were tightened more after President Trump refused to extend the temporary exemptions for NAFTA and the European Union. President Trump has authorized doubling the Section 232 tariffs to 50% on Turkish steel.

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