U.S. aluminum, steel prices jump while shares drop on Trump’s 50% tariff announcement

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Open this photo in gallery: Workers place aluminum railings onto a track in Mississauga, Ont., in May 2025. U.S. President Donald Trump said he would double tariffs on imports of aluminum and steel to 50 per cent.Cole Burston/The Globe and Mail U.S. prices of steel and aluminum spiked on Monday while shares of foreign steelmakers slumped after U.S. President Donald Trump said he would double tariffs on imports of the two metals to 50 per cent. Trump announced on Friday the new steel and aluminum levies, which take effect on June 4, intensifying a global trade war just hours after...