US Steel/Aluminum Tariffs Doubled to 50%; South Korea's President Vows Economic Revival
Key Takeaways
- U.S. doubled tariffs on steel and aluminum imports to 50 percent on 2025-06-04.
- South Korea's President Lee pledged to revive economy threatened by US tariffs.
- Nvidia nears Microsoft's market cap at $3.45T after stock rose by 2.6%.
- Dollar Tree projects weak Q2 profit, citing tariff-related uncertainty on 2025-06-04.
- Dutch government collapse may slow EU investment due to security challenges.
Top Stories
US tariffs on steel/aluminum doubled to 50%.
On 2025-06-04, the U.S. doubled tariffs on steel and aluminum imports to 50 percent. President Trump claims this action will revitalize American steel mills and aluminum smelters, but business leaders express skepticism.
South Korea's President Lee pledges to revive economy.
On 2025-06-04, South Korea's newly elected President Lee Jae-myung was inaugurated and pledged to revive the national economy, which he stated is threatened by US President Donald Trump's tariffs. He committed to restoring livelihoods and stimulating the economy at the National Assembly in Seoul.
Nvidia nears Microsoft's market cap at $3.45T.
On 2025-06-03, Nvidia's stock rose by 2.6%, bringing its market cap to $3.45 trillion, nearing Microsoft's $3.43 trillion. Jefferies added Nvidia to its list of highest-conviction picks, increasing the likelihood of Nvidia becoming the largest U.S. company by market cap.
Dollar Tree forecasts weak Q2 profit on tariffs.
On 2025-06-04, Dollar Tree projected a weak second-quarter profit, citing uncertainty related to tariffs.
Dutch government collapse may slow EU investment.
On June 3, 2025, ING Groep NV CEO Steven van Rijswijk stated that the Dutch government's collapse could slow down decisions regarding Europe's planned investment spree. He emphasized the need for government involvement in digital and defense infrastructure, especially considering current security challenges and tariff uncertainties.
Central Bank Actions
Marathon's Richards: Fed is on an extended hold.
On 2025-06-03, Marathon's Richards stated that the Federal Reserve is expected to maintain an extended hold on interest rates.
Business News
Buffett divested from two US-based investments.
On 2025-06-04, reports indicated that Warren Buffett divested from two US-based investments that he had previously recommended to millions of Americans.
Signet's stock surged after tariff-factored FY26 guidance.
On 2025-06-03, Signet's CFO indicated that current tariffs were already considered in the raised FY26 guidance, which led to a surge in the company's stock price.
Diamondback’s Viper buys minerals rival for $4.1B.
On June 3, 2025, it was reported that Diamondback’s Viper is acquiring a minerals rival for $4.1 billion.
Duni Group acquired LinePack for food packaging.
On 2025-06-04, it was reported that Duni Group acquired LinePack to improve food packaging solutions.
Ford's sales increased due to employee pricing.
On 2025-06-03, it was reported that Ford experienced a sales increase due to employee pricing, despite tariffs.
Financial Health
B&M sales and profits fell due to lower pay.
On 2025-06-04, reports indicated that B&M experienced a decline in sales and profits, attributed to lower-income consumers not benefiting from pay increases.
Global Trade
Tariffs unlikely to alter Apple's outlook.
A report published on 2025-06-04 indicates that both Apple bulls and bears do not anticipate tariffs significantly impacting the company's financial outlook.
Push for Beijing to ease rare earth magnet restrictions.
According to a report published on 2025-06-03, diplomats and automakers are reportedly urging Beijing to ease export restrictions on rare earth magnets.
Market Overview
US stock futures rose; tech shares supported.
Treasury/dollar slides reignite 'Sell America' fears.
On June 3, 2025, reports indicated that treasury and dollar slides are reigniting 'Sell America' fears. However, a buying opportunity exists in one corner of US debt.