US steel industry booming after Trump's tariffs

U.S. steel mills have seen almost a 5 percent jump in shipments so far this year, a sign that it’s benefiting from stiff 25 percent tariffs on imports the Trump administration imposed last year.

The American Iron and Steel Institute reported Monday that U.S. mills shipped 8.1 million tons in October, up 4.6 percent from the previous month and up 6 percent from the same period last year. So far this year, the industry has shipped 79.6 million net tons, 4.6 percent more than it had by this point last year.