Steel Talkin’ Tariffs

Tariffs and the markets are both going up. 

President Trump announced Friday that the U.S. will double tariffs on imported steel—from 25% to 50%—to protect the American industry. Speaking to Pennsylvania steelworkers, he tied the move to a not-yet-final $14B acquisition of U.S. Steel by Japan’s Nippon Steel, with conditions ensuring U.S. control. The tariffs take effect Wednesday and could raise prices on everything from soup to construction supplies.

Meanwhile, Wall Street celebrated a strong month of May: the S&P 500 (+6.2%) and Nasdaq (+9.6%) both had their best months since November 2023, and the Dow Jones climbed a lower, but still respectable, 3.9%.

The tech sector led May’s march upward; healthcare was the only sector to end the month down.

RADIATE HOPE
Regardless of what happens to the economy in the coming months, God will remain in control. In the midst of earthly uncertainty, set your hope on the abundance we will enjoy with Christ for eternity when he comes. 

“Blessed be the God and Father of our Lord Jesus Christ. Because of his great mercy he has given us new birth into a living hope through the resurrection of Jesus Christ from the dead and into an inheritance that is imperishable, undefiled, and unfading, kept in heaven for you.”
1 Peter 1:3-4 (CSB) (read full passage)