Nucor, Cleveland-Cliffs, Alcoa Slide As Trump Reportedly Mulls Steel & Aluminum Tariff Rollback

The reaction was swift. Steel and aluminum producers — long beneficiaries of tariff protection — traded lower by 5-6% in early intraday trading, as investors began pricing in the possibility of renewed foreign competition and softer domestic pricing power.Tariff Trade ReversalTariffs have acted as a cushion for U.S. producers, supporting margins and limiting cheaper imports. If rolled back, that cushion thins.The market isn't waiting for official paperwork. Traders moved quickly to de-risk metal names, part ...