Hey kids! Did you hear about some big changes in the steel world? President Trump decided to add extra taxes (called tariffs) on steel coming into the United States. This is important because a lot of steel used in the US comes from other countries.
This news affected some big steel companies in Europe. Their stock prices, which show how much people think the companies are worth, went down a bit because of the new taxes. It's like when the price of your favorite candy goes up!
Let's learn more about what happened:
- The US gets a lot of its steel from other places.
- New taxes on imported steel made some European steel company stocks go down in value.
- One big steel company, ArcelorMittal, might lose around $100 million every three months because of these new taxes.
| Company | Percentage of sales affected |
|---|---|
| ArcelorMittal | 13% |
| Thyssenkrupp | 5% |
