Tariffs to allow U.S. steelmakers to lift prices, WSJ says

Before Trump announced 25% tariffs on all imports from Mexico and Canada, steel prices started rising for some U.S. companies and executives are bracing for more increases to come, Bob Tita of The Wall Street Journal reports. The duties are expected to strengthen U.S. steelmakers’ pricing power by raising prices for foreign steel while also enabling domestic companies to raise their prices, too. Publicly traded companies in the steel space include ArcelorMittal (MT), Cleveland-Cliffs (CLF), Nucor (NUE), Steel Dynamics (STLD) and U.S. Steel (X).