The U.S. imported more than $31 billion worth of steel in 2024.
Category
🥇
SportsTranscript
00:00While stocks are slumping overall, steel stocks got a big bump to begin the first trading day of
00:04June. That's thanks to President Trump saying he would double the tariff on steel imports from 25%
00:09to 50%. After telling workers at a U.S. steel facility in Pennsylvania of his intentions,
00:14the president took to social media and posted,
00:16It is my great honor to raise the tariffs on steel and aluminum from 25% to 50%,
00:21effective Wednesday, June 4th. Our steel and aluminum industries are coming back like never
00:25before. This will be yet another big jolt of great news for our wonderful steel and aluminum workers.
00:30Make America great again. According to the Commerce Department, the United States imported more than
00:35$31 billion worth of steel and iron in 2024, with $7.6 billion of that coming from Canada alone.
00:42Cleveland Cliffs, Nucor, and Steel Dynamics all saw their shares receive double-digit bumps in
00:47pre-market trading on June 2nd. That'll do it for your Daily Briefing. From New York City,
00:51I'm Kelsey Barbario with The Street.
00:55Which means a full-digitory year that's related to the
01:15Adjustment to October 2021
01:18Should be prepared for your radio