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Steel stocks jump on Trump's tariff threat

The trade deficit: Does it really matter?

President Trump gave U.S. steel companies a shot in the arm Thursday when he doubled down on his trade threats.

Shares of AK Steel (AKS), Nucor (NUE), Steel Dynamics (STLD) and U.S. Steel (X) all shot up after trade comments President Trump made on Air Force One were made public Thursday afternoon.

Any day, Commerce Secretary Wilbur Ross is expected to announce the results of an investigation to determine whether steel shipped in from other countries is a risk to U.S. national security.

Trump is allowed to raise tariffs as high as he wants, and on as many countries as he wants, without approval from Congress if he cites national security as the reason.

Most trade experts already expected Trump to use tariffs or quotas on steel. His comments left little doubt.

Asked about what he would do to imported steel, Trump said "There are two ways -- quotas and tariffs. Maybe I'll do both," according to a White House...


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