Trump imposes tariffs on steel and aluminum imports
President Trump announced 25 percent tariffs on steel and aluminum imports as part of a broader plan to reshape world trade. He aims to align all imports with foreign rates and has already imposed 10 percent tariffs on China. Inflation risk and voter concern loom as economists warn of higher prices, retaliatory tariffs, and job losses while stock in steel firms climbs on tariff optimism.
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Wall Street climbs as tariffs threat sways markets
U S stocks rose Monday with the S&P 500 up 0.7 percent and the Dow adding 167 points as investors braced for 25 percent tariffs on all steel and aluminum imports and other duties. Nvidia and Broadcom led Big Tech gains while metal makers such as Nucor, Cleveland Cliffs, and Alcoa rallied on tariff expectations.
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Judge asks to free Treasury access in NY dispute
Justice Department asks a New York judge to roll back a weekend order limiting access to the Treasury payment system amid a high profile fight over control and accountability. States allege DOGE temporary staff access risks hacking. DOJ says political appointees barred. Judge Vargas convenes officials to argue next steps.
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Trump orders end to minting pennies
President Donald Trump directed the Treasury to stop producing new pennies citing rising costs. The Mint posted an $85.3 million loss in 2024 as penny production neared 3.2 billion coins and per coin costs rose from 3.1 to 3.7 cents.
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