Trump targets cheap Chinese steel in probe, rallying US steel stocks
President Donald Trump on April 20 launched a trade probe against China and other exporters of cheap steel into the U.S. market, raising the possibility of new tariffs and sending shares of some U.S. steel makers up over 8 percent. Citing concerns about national security, Trump made the announcement at a White House ceremony with U.S. steel executives from Nucor Corp, United States Steel Corp and TimkenSteel Corp alongside Commerce Secretary Wilbur Ross, a billionaire businessman who made part of his fortune investing in the steel business.
