Report: Trump weighs potentially explosive steel, aluminum import tariffs

|By:, SA News Editor

AK Steel (AKS -6.6%) and other steel and aluminum producers (SLX -0.3%) are lower following a report that the Trump administration is considering "potentially explosive" steel and aluminum import tariffs.

Axios reports that the administration is working on an executive order that would initiate investigations into "unfair" product dumping from foreign companies, an action that could lead to tariffs on a wide range of products.

Notable Calls opines that such action could significantly boost U.S. Steel (X -1.1%) and aluminum producers such as Alcoa (AA -0.9%), as it would drive up pricing.

But sector shares now are broadly lower, including: RS -0.3%, NUE -0.4%, MT -0.6%, CLF -1.2%, STLD -1.6%.