President Trump could soon roll back some tariffs on imported steel and aluminum products, according to The Financial Times. Those tariffs, which were raised from 25% to 50% last June, were imposed under Section 232 of the Trade Expansion Act of 1962. That means they won’t be affected by the Supreme Court’s recent ruling against Trump’s country-specific tariffs, which were imposed under the International Emergency Economic Powers Act (IEEPA).
President Trump is reportedly mulling lower tariffs for aluminum cans, steel appliances like ovens, and other consumer-oriented products. Two blue chip consumer staples stocks could benefit from those reductions: Coca-Cola (KO0.31%) and Constellation Brands (STZ2.91%).