Shares of the American steel company United States Steel Corp saw a strong surge of more than 8% during pre-market trading on Monday.
This strong rise in US Steel's stock came after President Donald Trump announced a 25% tariff on all steel and aluminum imports, although he did not specify when the tariffs would take effect.
Regarding the Nippon Steel deal, Donald Trump stated yesterday (Sunday) that Nippon Steel would not be allowed to acquire a majority stake in United States Steel during a joint meeting with Japanese Prime Minister Ishiba last Friday.
During pre-market trading on today's session, US Steel shares (NYSE: X) recorded an increase of nearly 8.15%, trading close to the level of $39.94 per share.
