Steel Stocks Soar
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U.S. steel stocks, more. Wall Street sees more weakness ahead for U.S. dollar. Indivior to delist from London Stock Exchange, maintain primary listing on Nasdaq.
The impact from U.S. President Donald Trump's plan to increase tariffs on steel and aluminium products is likely to be "minor" as India does not export steel to the U.S. "in a big way", federal steel minister HD Kumaraswamy said on Monday.
Asia stock markets trade in red on Monday, followed President Trump's announcement on Friday of plans to raise steel import tariffs from 25% to 50%, effective Wednesday, framing it as a step to reduce reliance on China.
The U.S. dollar fell against other major currencies on Monday, giving up some of the previous week's gains, as markets weighed the outlook for President Donald Trump's tariff policy and its potential to constrict growth and unleash inflation.
Canada’s steel industry warned of “catastrophic” job losses, factory slowdowns and supply chain disruption after US President Donald Trump doubled tariffs on imports to 50 per cent.
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Hours after Elon Musk's farewell ceremony in the Oval Office, a U.S. appeals court denied the Trump administration's request to resume mass firings of federal employees. Meanwhile, President Trump returned to a key battleground state for a rally after declaring new steel tariffs and announcing a deal with Japan's Nippon Steel.