United States Steel Shares Are Up Today: What's Going On?

United States Steel Corp. X shares are trading higher Monday after reports that President Donald Trump plans to reinstate 25% tariffs on steel and aluminum imports, a policy aimed at supporting domestic production.

Steel and aluminum stocks jumped in response, with major industry players seeing gains in premarket trading. Trump's original tariffs in 2018, imposed under national security justifications, sparked trade tensions and led to retaliatory measures from key U.S. allies.

While the policy boosted domestic producers by raising prices, it drew criticism from trading partners, including Canada and Mexico. The Canadian government reaffirmed its opposition to the tariffs, emphasizing the importance of its steel and aluminum exports to U.S. industries. European steelmakers warned that new tariffs could drive excess supply into their markets.

Markets are now watching for Trump's next steps, as he also suggested introducing reciprocal tariffs in response to trade policies affecting U.S. goods. Previous tariff fluctuations on Canada and Mexico have led to market uncertainty.

X Price Action: United States Steel shares were up 3.35% at $38.22 at the time of writing, according to Benzinga Pro.

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