X News & Events

Officials in the EU are worried that a U.S. plan to broaden tariffs on EU steel and aluminum could undermine the spirit of their recent trade agreement, particularly the 15% tariff ceiling, Bloomberg's Alberto Nardelli and Jorge Valero report. The EU is advocating for a quota system to allow some exports at lower duties and seeks collaboration with the U.S. and other partners to manage imports and prevent market flooding. Publicly traded companies in the space include ArcelorMittal (MT), Cleveland-Cliffs (CLF), Nucor (NUE), Steel Dynamics (STLD) and U.S. Steel (X).

The Trump administration flexed its new authority over U.S. Steel, blocking the company's plan to shut down production at an Illinois plant this fall, The Wall Street Journal's Bob Tita reports.

The Trump administration is considering a plan to spur domestic factory construction using a $550B investment fund from Japan, The Wall Street Journal's Brian Schwartz and Gavin Bade report. The plan would give priority to sectors like semiconductors and critical minerals, offering preferential treatment and access to federal resources. It comes as the president has secured a government stake in Intel (INTC), negotiated a "golden share" in U.S. Steel (X), and persuaded chip companies to give the U.S. a cut of certain sales to China.