President Donald Trump confirmed on Sunday that he will announce new tariffs of 25% on all steel and aluminium imports on Monday. Additionally, he plans to unveil “reciprocal tariffs” later in the week. While the tariffs on Canada and Mexico were temporarily delayed by 30 days, Trump indicated that he still intends to impose them.

Market Reaction

  • Feb. 9, 6:00 a.m. EST – Following the tariff announcement, U.S. Steel (X) and Alcoa (AA) surged in pre-market trading.
    • U.S. Steel stock jumped 8.2% to $40.
    • Alcoa rose 4.65% to $37.80.
  • Stock Futures Rally:
    • Nasdaq 100 Futures climbed 0.65% to 21,729.
    • S&P 500 Futures increased 0.4% to 6,074.

With the tariffs set to take effect immediately, investors will be closely watching for potential retaliatory actions from U.S. trading partners and their impact on global markets.

Read here: Trump’s 25% Tariffs on Steel & Aluminum: What It Means for Stocks