Shares of Nucor (NUE) are up 8.3% in morning trading, Steel Dynamics (STLD) was rising 6.7%., and U.S. Steel (X) was 5.1% higher. Aluminum stocks were also moving up as Trump said he'd include it in his tariff order, too.

WASHINGTON (AP) — President Donald Trump said he will announce on Monday that the United States will impose 25% tariffs on all steel and aluminum imports, including from Canada and Mexico, as well as other import duties later in the week.

The president’s plan to impose 25 percent tariffs on foreign steel and aluminum could protect U.S. suppliers, while increasing costs for others.