President Donald Trump plans to announce a 25% tariff on steel and aluminum imports
Shares of steel giants Nucor Corp (NYSE:NUE) and United States Steel Corp (NYSE:X) are surging after President Donald Trump on Sunday announced plans to impose a 25% tariff on steel and aluminum imports.
At last glance, NUE was up 5.6% at $137.51, extending its year-to-date gain to 19.8% as it rebounds from its Jan. 3, two-year low of $112.25. Meanwhile, X was last seen 2.7% higher at $37.94, now up 12.1% in 2025 and earlier breaking above recent resistance at the $38 region.
Call traders are reacting positively to the news, with Nucor stock already seeing four times its average intraday call volume, while United States Steel stock has seen double the usual number of bullish bets at this point in the trading session. For NUE, the most active contract is the March 140 call, and for X it's the March 55 call.