"President Donald Trump announced sweeping tariffs on April 2, 2025, dubbing the date Liberation Day. The executive order imposed a 10% baseline tariff on imports from nearly all countries starting Apr. 5, with higher country-specific rates to follow for Apr. 9. This triggered a global market crash, with the S&P 500 dropping more than 12% in the following week. U.S. stocks recovered after Trump paused some tariffs on Apr. 9, with the S&P 500 largely returning to pre-announcement levels within a month."
"Nucor shares have surged 43% over the past year, driven by Trump's steel tariffs and robust domestic demand. The company, a leading U.S. steel producer, benefited from the expansion of Section 232 tariffs, which imposed 25% duties on steel imports early in 2025 and doubled them to 50% by June. This reduced U.S. sheet steel imports by 35% through October, allowing Nucor to capture more market share."
President Donald Trump announced sweeping tariffs on April 2, 2025, imposing a 10% baseline tariff on imports from nearly all countries starting Apr. 5 and promising higher country-specific rates by Apr. 9. The announcement triggered a global market crash, with the S&P 500 falling over 12% in the following week, though stocks rebounded after some tariffs were paused on Apr. 9 and the S&P 500 largely returned to pre-announcement levels within a month. The tariffs’ legality under the International Emergency Economic Powers Act faces judicial review, with a Supreme Court decision possible imminently. Sustained duties would shield U.S. producers such as Nucor and First Solar from foreign competition.
Read at 24/7 Wall St.
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