US Stock Market Move | Trump's trade policy "significantly upgraded", steel and aluminum sectors generally rose

On Monday, the steel and aluminum sectors saw a general rise in pre-market trading, with Cleveland-Cliffs Inc. (CLF.US) up over 7%, Commercial Metals Company (CMC.US) up over 6%, Steel Dynamics Inc. (STLD.US) up over 5%, United States Steel Corporation (X.US), and Alcoa Corporation (AA.US) up over 3%. On the news front, US President Trump announced that he will impose a new 25% tariff on all steel and aluminum imports to the US on February 10. This new tariff will be in addition to the existing metal tariffs, marking another major escalation in Trump's trade policy reform. Additionally, according to sources quoted by Kyodo News, Japanese Prime Minister Shigeru Ishiba presented a plan to modify the acquisition of United States Steel Corporation by Japanese steelmakers in a meeting with President Trump, proposing a significant investment instead of a buyout. Discussions had already taken place with Nippon Steel on this matter.