Earlier this year, President Trump imposed a 25% tariff on US steel imports and a 10% tariff on aluminum imports. The tariffs were imposed after the Commerce Department’s findings found that steel and aluminum imports are a threat to US national security. After the tariffs, US steel prices rose to multiyear highs. US Midwest physical aluminum premiums also spiked. However, steel and aluminum stocks haven’t really found favor with markets despite the tariffs.
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