Nucor profit doubles as Trump's steel tariffs drive demand higher

Nucor posted the highest second-quarter profit in its history as the steelmaker ramped up output to meet demand from President Trump’s 25 percent tariffs on imports from overseas competitors.

The Charlotte, N.C.-based company has benefited as Trump’s duties reduced so-called dumping of illegally subsidized metals in the U.S. from foreign producers, said Chief Executive Officer John Ferriola. China, in particular, has long been criticized for undercutting steel prices, which harms American manufacturers.