U.S. stocks open higher as investors snatch up aluminum and steel shares on President Trump's plan for a 25% tariff on those imports.

Steel and aluminum are heavily used in the automotive and construction industry, but are also used to manufacture goods and appliances. The decision mirrors the actions Trump levied during his first Administration, when he enacted a 25% tariff on steel and 10% tariff on aluminum, though some countries, including South Korea were exempt.

Mr Trump has made clear that he sees tariffs as a way to incentivise foreign investment in America and boost production at home. “It’s going to mean a lot of businesses are going to be opening in the United States,