1004 ET - American steel producer stocks are gaining ground ahead of a second Trump term. Nucor shares pop 12% and Cleveland-Cliffs surges 12%. U.S. Steel, whose pending merger with Nippon Steel faces opposition from Trump, is up 2.3%. Trump imposed a tariff on steel imports in his first term in a bid to protect U.S. steelmaking jobs. Those policies were rolled back under Biden, but Trump is widely expected to push more broad protectionist policies once he returns to the White House. (ben.glickman@wsj.com; @benglickman)
(END) Dow Jones Newswires
November 06, 2024 10:04 ET (15:04 GMT)
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