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Trump's Trade New Deal is expected to lead to rising US steel stocks

publisherJudy

time2017/06/30

CNBC television on June 28 reported that in the Trump government on trade policy announcement expectations, the US steel stocks rose on the 27th.
Reported that the US steel company shares rose briefly more than 2%, Alaska Steel Company in the midday trading rose 3%, steel power companies and Newcastle's trading volume are also higher than 1%.
According to reports, the US Department of Commerce is expected to be released this week, "232 survey" results, the investigation of foreign imports of steel content will be a threat to the safety of the United States. The US president signed a memorandum at the end of April asking Commerce Secretary Wilbur Ross to focus on the interests of the US steel industry, which could lead to higher tariffs on China and other foreign steel companies in the United States.
A senior executive officer told CNBC on the 27th that the findings were distributed to White House advisers and all federal government stakeholders for review.
"Many people expect the Commerce Department to present a statement today or later this week that Trump will impose Section 232 of the Trade Extension Act," the industry's director, Aldo Mazaferro, "He also suggested that the steel market" has begun to improve, "Trump developed any action to protect the US steel company will" soon "happen.
According to reports, on the 27th, three senior officials told Reuters, Trump recently expressed dissatisfaction with China, is seeking, including steel import tariffs, including a variety of options. At the same time, Aksh reported on the 27th, the White House is discussing how to punish foreign companies to lower prices than the market price to the United States to sell large amounts of steel behavior.
Reported that the announcement and changes in the forecast, Wall Street, some large companies also raised the steel price in the last few weeks. However, it is certain that the support of the US steel company's statement may not be like Wall Street hope to boost the stock market. Aldo Mazafero noted that leaving foreign companies to leave the US steel market could have led to a decline in global competitiveness in the world, he said: "In the long run, this protectionism is undoubtedly a kind of American manufacturing industry risk."