Why Cleveland-Cliffs, Steel Dynamics, and Nucor Corp Are Surging Today (Hint: It Has to Do With President Trump)
The Motley Fool·2025-06-02 23:30Steel stocks surged this morning after the Trump administration said over the weekend it will double steel and aluminum tariffs from 25% to 50%.Shares of Cleveland-Cliffs (CLF 24.53%) have blasted roughly 26% higher as of 10:43 a.m. ET today. Shares of Steel Dynamics (STLD 9.69%) and Nucor (NUE 8.72%) have also jumped roughly 11% and 10.5%, respectively.Tariffs seem more firm around steel and aluminumPresident Donald Trump announced the higher tariffs on steel and aluminum after the market closed Friday dur ...