BlueScope Shares Jump After Trump Tariff Pledge -- Market Talk
0336 GMT - Shares in Australia-based steelmaker BlueScope are roughly 6% higher after President-elect Donald Trump pledged tariffs on China, Mexico and Canada. The U.S. is BlueScope's top region for growth. The steelmaker, which runs the North Star mini-mill in Ohio, is working to boost volumes there by another 10% following the recent completion of an expansion that increased output by nearly 50%. BlueScope's stock hit an intraday high of A$22.80 in Sydney, its highest price since Nov. 8. It recently traded at A$22.47. Trump says in a social-media post he would impose an additional 10% tariff on all products that come into the U.S. from China, the world's largest steel producer by far. That would be on top of existing tariffs the U.S. has already imposed on Chinese goods. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
(END) Dow Jones Newswires
November 25, 2024 22:36 ET (03:36 GMT)
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