ETFs to Win/Lose on Trump's Steel and Aluminum Tariffs [Yahoo! Finance]
Diageo plc (DEO)
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Source: Yahoo! Finance
While an initial 25% duty on all steel and aluminum imports is set to take effect Wednesday, Trump's unexpected statement about doubling the tariff sent stocks into a tailspin. However, U.S. steel manufacturers largely support the move. In a letter to the president, nine steel industry executives, including those from U.S. Steel X, Nucor NUE, and Cleveland-Cliffs CLF, expressed strong backing for the initial 25% tariffs. Later in the day, Trump suggested that the additional 25% increase might not be implemented after Ontario's premier announced a suspension of a surcharge on electricity exports. Philip Bell, president of the Steel Manufacturers Association, expressed hope that at least the original 25% duties would remain in place, as quoted o
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