- President Donald Trump announced he may slap even more tariffs on China, in light of its recent retaliatory tariffs.
- The Dow Jones industrial average is getting whacked.
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US Steel is getting whacked after Trump threatens more tariffs (DJIA, X)
The Dow is down after Trump's latest tariff announcement.
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Stocks are falling Friday, after President Donald Trump threatened to escalate a brewing trade war with China.
Trump, in response to China's retaliatory tariffs, said Thursday night that "i
Somewhat counterintuitively, US Steel Company was down as much as 6% Friday, to an intraday low of $34.31. Tariffs on imported steel would boost prices of the commodity, which could lift the steelmaker's stock.
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Indeed, after Trump's first announcement of steel and aluminum tariffs in early March, US Steel rose 6%, as investors cheered on the prospect that the company would enjoy more market share in the US and higher prices. Analyst Novid Rassouli of Cowen and Company told Business Insider that the tariffs could make US Steel Company's operating income "laughably high."
And Morgan Stanley analyst Piyush Sood told Business Insider, "
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