VanEck Steel ETF

SLX

Market cap $92.5M

Over the last 100 trading days, or roughly five months, the S&P 500 Index (SPX) has surged more than 25%.

Oil rebounded on strong demand signals and easing trade tensions, boosting XOP and SLX while pressuring XRT, CRAK, JETS, and GDX.

Bloomberg reported Tuesday that a quota deal with Mexico would let some steel imports enter the U.S. tariff-free.

Increase is piggybacking on seven-year-old findings. Are they too stale?

U.S. President Donald Trump has promised to hike nearly all of his tariffs on foreign steel and aluminum to a punishing 50% on Wednesday, a move that would hammer businesses from automakers to home builders, and likely push up prices for consumers.Foreign-made steel and aluminum is used in household products like soup cans and paper clips as well as big-ticket items like a stainless-steel refrigerators and cars. Economists warn that the latest tariffs will significantly squeeze the wallets of both companies and shoppers alike.Here's what we know.

The president ratcheted up the rate on foreign metals to 50 percent, saying the former levies weren't high enough to help the U.S. industry.

Donald Marleau says President Trump's increased tariffs on steel and aluminum will give more power to U.S. steelmakers but notes they will likely pass prices onto consumers. He points to historical stock prices and credit quality trends for steelmakers to show how companies like Cleveland-Cliffs (CLF) and Steel Dynamics (STLD) will likely handle tariff volatility.

He initially announced the move last Friday while visiting a U.S. Steel factory in Pennsylvania.

CNBC's Eamon Javers joins 'Closing Bell Overtime' with a tariff update from the White House lawn.

The White House said Tuesday that President Donald Trump has signed an executive order to double tariffs on imported steel and aluminum to 50% from 25%.