Steel stocks rise after Trump threat to Brazil

Business | 3 Dec 2019 10:55 am

US President Donald Trump on Monday accused Argentina and Brazil of hurting American farmers through currency manipulation and said he will impose tariffs on their steel and aluminum imports to retaliate.

Both South American nations were among a group of U.S. allies that Trump had exempted from steel and aluminum tariffs in March 2018.

United States Steel climbed 4.2 percent and AK Steel added 4.7 percent after Trump’s remarks.

New data on manufacturing and construction spending also helped drag stock indexes lower Monday.-AP

 

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