Trump doubles steel tariffs to 50% - Dax falls, markets in turmoil!

Trump doubles steel tariffs to 50% - Dax falls, markets in turmoil!

Pennsylvania, USA - President Donald Trump has announced the increase in steel tariffs in the United States from 25% to 50%. This measure was announced in Pennsylvania and is intended to strengthen the domestic steel industry and secure jobs in the country. However, the decision ensures uncertainty in the markets and investors. The DAX then fell to the 24,000 points mark and recorded a loss of around 0.9%in the afternoon, and noted between 23,768 points (daily low) and 23,993 points (Tagspitze) daily show.de .

The announced tariffs come into force from March 12, 2025 and affect all steel products and derivatives, regardless of the country of origin . The US government hopes that increasing tariffs will make foreign steel less competitive and thus prefers the American industry. While the American steel industry welcomes this step, critics warn of possible countermocks and the negative effects on international trade relationships.

The announcement led to mixed reactions on the stock markets. The MDAX grew slightly by 0.1% and was less affected by the international disorders. In contrast, the US stock markets started with moderate losses. The Dow Jones fell by 0.2%, which also influenced the indices S&P 500 and Nasdaq Tagesschau.de .

While shares of companies such as Hensoldt, Rheinmetall and Renk only got on at the beginning, they soon experienced a decline. However, David Perry from JPmorgan expects a strong development among German armaments companies over the next five years. There were also positive reports in the medical field: Biontech and Bristol-myers Squibb agreed to develop a cancer-active ingredient candidate (BNT327), which led to an increase in Biontech share by over 16% in the first retail minutes.

oil market and other developments

on the oil market, the prices for brent oil rose by 4.1% to $ 65.28, while the Opec+ decided to increase a production by 411,000 barrels per day in July. The euro could easily get $ 1.1415 (+0.6%). In addition, DHL announced that the prices for private customers abroad will be raised from July 1st Tagesschau.de .

With regard to the future trade relationships in the United States, the situation remains tense. Experts warn of the possible negative effects of customs policy on the global economy and growth. Companies that rely on steel imports could be forced to increase their costs, which could ultimately also affect consumer prices. The international reactions to the new tariffs are also made up of IT-BoltWise.de .