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Steelmakers may benefit from Trump trade salvos, but Wall Street warns of longer-term headwinds
U.S. steelmakers should be beneficiaries of President Donald Trump’s new tariffs, but Wall Street warned that there are some risks in the longer term. On Saturday, Trump slapped 25% tariffs on imports from Mexico and Canada and a 10% levy on those from China. On Monday, the U.S. agreed to pause tariffs on Mexico for one month in return for President Claudia Sheinbaum sending troops to northern border. Those decisions reversed the stock market’s early slide. The Dow Jones Industrial Average was recently lower by about 100 points after buckling 600 points as the trading day began. Steel stocks waffled, after seeing ... (full story)