Imports of steel and aluminum into the U.S. are poised to get a 25% charge as President Donald Trump looks to levy tariffs, escalating trade war tensions. In the near term, the plan is boosting stocks of domestic producers.
The SPDR S&P Metals & Mining ETF is currently at $62.44, up 3.63%, on pace for its largest percent increase since November 6, 2024, according to Dow Jones Market Data. The ETF’s top holdings are United States Steel, Newmont, and Ati –all metal companies.
But over the long term, economists overwhelmingly say that tariffs sap economic growth and help only a few. They also allow inefficient producers to stay in the market–in other words companies who produce goods at a higher cost can survive in the market because competition from foreign producers gets reduced.
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