Aug. 19 at 5:53 PM
$CLF $MT $NUE $X $RS
U.S. to cut tariffs on Canadian steel, aluminum to 25%, Bloomberg reports
The tentative trade agreement between the U.S. and Canada would cut tariffs on certain Canadian exports of steel and aluminum to 25%, Bloomberg's Josh Wingrove, Jennifer Douhy, and Alicia Diaz report, citing people familiar with the matter. Details have yet to be finalized and are not anticipated to apply across the board, and different rates could apply to certain derivative products that include such metals, the authors note.
Publicly traded companies in the steel space include ArcelorMittal (MT), Cleveland-Cliffs (CLF), Nucor (NUE), Steel Dynamics (STLD) and U.S. Steel (X). Publicly traded companies in the aluminum space include Alcoa (AA), Kaiser Aluminum (KALU), Rio Tinto (RIO), Century Aluminum (CENX), and Constellium (CSTM).
