🚀 Trump Tariffs on Steel and Aluminium

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Market Overview
Read time 1.4 minutes

Year To Date Performances:

1. Donald Trump announced plans for new 25% tariffs on steel and aluminum imports, adding to existing duties without specifying a timeline. The move is expected to benefit U.S. steel and aluminum industries in the long term by encouraging investment, despite short-term demand concerns. Major exporters like Canada, Mexico, Germany, and several Asian nations—including South Korea, Vietnam, and Japan—are likely to face economic strain. Germany's Thyssenkrupp downplayed the impact, citing its strong local U.S. operations. The U.S. previously imposed similar tariffs in 2018, generating over $1.4 billion in revenue within five months.

2. Donald Trump ordered a halt to penny production, calling it a wasteful expense since each coin costs more than its face value to mint. While the legality of his directive is uncertain—since Congress holds exclusive coinage power—analysts predict the move will stand, potentially creating a penny shortage. TD Cowen’s Jaret Seiberg warned this could force merchants to pay banks more for coins and accelerate the shift toward electronic payments, benefiting companies like Visa and MasterCard. In 2024, the U.S. Mint spent 3.69 cents per penny, and with nickels costing 13.78 cents to produce, they may be next.

3. McDonald's missed revenue expectations as U.S. customers spent less, with domestic same-store sales falling 1.4%, worse than the projected 0.6% decline. The drop followed an E. coli outbreak linked to its Quarter Pounder burgers, which sharply reduced traffic in affected states. Although international sales grew, with a 4.1% rise in licensed markets and slight growth in operated markets, overall revenue remained flat at $6.39 billion, below the expected $6.44 billion. The company's $5 combo meal previously boosted U.S. sales but failed to offset declining spending habits. Shares dipped slightly in premarket trading.

4. Headlines

   1. Gamestop and MicroStrategy shares rose after an image of Ryan Cohen and Michael Saylor went public.

   2. Global demand for coal continues to rise, led by a 14.4% increase in coal imports by China.

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*The Deloitte rankings are based on submitted applications and public company database research, with winners selected based on their fiscal-year revenue growth percentage over a three-year period.
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Onwards and Upwards,

Liam Gill