Trump Could Reduce Steel And Aluminum Tariffs And These Stocks Are Responding

President Donald Trump is reportedly planning to reduce some steel and aluminum tariffs, according to a Financial Times article Friday. Several U.S.-listed steel and aluminum stocks fell at the stock market open on Friday.

Trump’s decision cut tariffs on some aluminum and steel goods comes as the president battles an affordability crisis, the Financial Times reports. The White House is currently reviewing products affected by the up-to-50% tariffs on steel and aluminum imports and plans to exempt some items and launch more targeted security probes into specific goods, according to the report.

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High steel and aluminum tariffs have pressured U.S. manufacturers, from automakers to beverage makers.

Following the report, steel and aluminum producer stocks fell in regular stock market action on Friday.

Steelmakers Cleveland-Cliffs (CLF) and Nucor (NUE) declined 3.5% and 3%, respectively. Steel Dynamics (STLD) dropped 3.9% in stock market trade.

Meanwhile, aluminum producer Century Aluminum (CENX) sank 7.4%. Alcoa (AA) edged 1% lower.

Overall, the 16 stocks in the IBD-tracked Steel-Producers industry group have gained 12% so far in 2026. That’s good for 22nd out of the 197 industries ranked by IBD.

Separately, the 25 stocks in the Metal Proc & Fabrication industry group are collectively up more than 18% at the stock market close on Friday.

Cleveland-Cliffs stock has a 38 Composite Rating along with a 51 Relative Strength Rating and a 21 EPS Rating.

Please follow Kit Norton on X @KitNorton for more coverage.

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