U.S. President Donald Trump intends for new reciprocal tariff rates to start on April 2, Andrea Shalal and David Lawder of Reuters reports. “The intent is to enact tariffs on April 2,” a white house official said, according to Reuters. “Unless the tariff and non-tariff barriers are equalized, or the U.S. has higher tariffs, the tariffs will go into effect.” This comes following comments from Treasury Secretary Scott Bessent that indicated a possible delay in their activation. Increased tariffs on U.S. steel and aluminum imports took effect last week, with publicly traded companies in the steel and aluminum space including ArcelorMittal (MT), Cleveland-Cliffs (CLF), Nucor (NUE), Steel Dynamics (STLD) and U.S. Steel (X).
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