Steel stocks soared Monday after President Donald Trump dropped a tariff bombshell at a rally in Pennsylvania on Friday evening.He plans to double imports on foreign steel to 50% from 25%. That move is designed to help the domestic industry.

Major steel stocks jumped Monday after President Donald Trump hiked tariffs tied to the metal. Trump said Friday at a Pennsylvania rally he would double tariffs on steel imports to 50% from 25%, a move that inflamed trade tensions again and drew criticism from global partners.

Key Takeaways Ford shares will remain in focus after slumping on Monday as investors digested President Donald Trump’s plan to double tariffs on steel imports to 50%.The stock recently broke down from a rising wedge pattern to resume its longer-term downtrend,