Trump plans to reduce some tariffs on steel, aluminum goods, FT says

U.S. President Donald Trump is planning to reduce some tariffs on steel and aluminum goods as he battles an affordability crisis, Aime Williams and Andy Bounds of The Financial Times reports. The Trump administration is reviewing products affected by the up to 50% tariffs on steel and aluminum imports, planning to exempt some items and launch more targeted security probes into specific goods, three people familiar with the matter told the Times. Publicly traded companies in the space include ArcelorMittal (MT), Cleveland-Cliffs (CLF), Nucor (NUE), Steel Dynamics (STLD) and U.S. Steel (X).