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Supreme Court will not hear challenge to Trump steel tariffs

  • The U.S. Supreme Court declines to hear a challenge to steel tariffs initiated by the Trump administration, leaving in place an earlier U.S. Court of International Trade decision which allowed for the tariffs on steel imports into the U.S.
  • The case was brought by a group of companies in the steel industry who say they are harmed by the 25% tariffs on steel imports that Trump ordered early last year.
  • The Trump administration urged the Supreme Court not to take the case, arguing that the president has wide-ranging authority over foreign affairs and national security matters.
  • Steel names are lower, including U.S. Steel (X -0.5%), Nucor (NUE -0.9%), AK Steel (AKS -0.2%), ArcelorMittal (MT -1.6%), Steel Dynamics (STLD -1.3%), Reliance Steel (RS -1.1%), Schnitzer Steel (SCHN -0.8%).
  • ETF: SLX

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Related Stocks

SymbolLast Price% Chg
X--
United States Steel Corporation
NUE--
Nucor Corporation
AKS--
AK Steel Holding Corporation
MT--
ArcelorMittal S.A.
STLD--
Steel Dynamics, Inc.