Downstream Section 232 tariff confusion sparks speculation

A lack of information on the extended Section 232 tariffs that were announced by US President Donald Trump on Friday January 24 has made it difficult to predict the impact on the downstream steel and aluminium markets.

The steel and aluminium tariffs will be set at 25% and 10% respectively and will take effect on February 8, according to the presidential proclamation.
A list of targeted goods hasn't been announced, but certain products were identified due to their increased imports in recent years.
But tariffs on steel and aluminium bumpers and body stampings for motor vehicles and tractors are unlikely to have much of an impact, according to Ducker Worldwide managing director Abey Abraham.

"I don't see a major change [from the tariffs]. The vast majority of bumpers, body parts and wire-type components seem to be highly specialized and localized for the markets here," Abraham...

Immediate trigger for crash was new Fed Chairman pick

Gold stocks slump on metal price decline

Is the gold market starting to turn 'irrationally exuberant'?

Gold stocks explode up as equity markets languish

Gold stocks outpace flat large caps