The U.S. will postpone a decision on imposing tariffs on U.S. imports of steel and aluminum from the European Union, Canada and Mexico for 30 days, the White House announced Monday ahead of trade talks with China next week.
The Trump administration also announced that it reached an agreement with South Korea on steel imports.
"In all of these negotiations, the administration is focused on quotas that will restrain imports, prevent transshipment and protect the national security," the White House said in a statement.
Steelmakers weren't seeing the benefits in early trading Tuesday.
Arconic Inc. (ARNC - Get Report) - shares were up 2.7% a day after the company slashed its full-year profit forecast to between $1.17 and $1.27 per share from its previous view between $1.45 and $1.55 per share.
Car-makers were rising.