Steel stocks leap after Trump vows to double tariffs to 50%, make Pittsburgh ‘the Steel City again'
1. Cleveland-Cliffs shares soared 21.4% following Trump's tariff announcement. 2. Trump plans to double steel import tariffs to 50% to boost the industry. 3. The EU warns of countermeasures against the new tariffs, escalating trade tensions. 4. Nippon Steel's investment in US Steel signifies ongoing consolidation in the sector. 5. Trump's tariffs aim to protect American jobs and manufacturing capabilities.