August 18: The U.S. Department of Commerce announced an expanded list of imports subject to the 50% steel and aluminum tariffs, effective August 18. According to the notice, hundreds of derivative steel and aluminum products are now subject to the 50% tariff, while non-steel and non-aluminum components remain subject to the applicable tariff rates based on their country of origin.

U.S. job growth slowed well below expectations and increased inflation figures intensify pressure on the Federal Reserve to cut rates at its September meeting.

Midwest Premium aluminum prices jumped post-tariff, with impacts looming for automobiles and construction sectors.