President Donald Trump announced sweeping tariffs on April 2, 2025, imposing a 10% baseline tariff on imports from nearly all countries starting Apr. 5 and promising higher country-specific rates by Apr. 9. The announcement triggered a global market crash, with the S&P 500 falling over 12% in the following week, though stocks rebounded after some tariffs were paused on Apr. 9 and the S&P 500 largely returned to pre-announcement levels within a month. The tariffs’ legality under the International Emergency Economic Powers Act faces judicial review, with a Supreme Court decision possible imminently. Sustained duties would shield U.S. producers such as Nucor and First Solar from foreign competition.
"President Donald Trump announced sweeping tariffs on April 2, 2025, dubbing the date Liberation Day. The executive order imposed a 10% baseline tariff on imports from nearly all countries starting Apr. 5, with higher country-specific rates to follow for Apr. 9. This triggered a global market crash, with the S&P 500 dropping more than 12% in the following week. U.S. stocks recovered after Trump paused some tariffs on Apr. 9, with the S&P 500 largely returning to pre-announcement levels within a month."
"Nucor shares have surged 43% over the past year, driven by Trump's steel tariffs and robust domestic demand. The company, a leading U.S. steel producer, benefited from the expansion of Section 232 tariffs, which imposed 25% duties on steel imports early in 2025 and doubled them to 50% by June. This reduced U.S. sheet steel imports by 35% through October, allowing Nucor to capture more market share."
Read at 24/7 Wall St.
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