EU Stainless Steel: Earning More, Still Calling for Tariffs
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12 November 2026 - Europe's big stainless steel producers are making good money again, thanks to protective tariffs. Their association still wants five more years of market protection in Brussels, with two stories that do not match. Friedrich Merz hails emissions trading as a
Directly affected
- No company is named in this report.
Indirectly affected
- XLI Industrial Select Sector SPDR-0.4% 30d
Industrial Select Sector SPDR: it holds companies hit by import costs and trade rules. Linked by “tariff” (tariffs and trade) in this story.
- XRT SPDR S&P Retail ETF
SPDR S&P Retail ETF: it holds companies hit by import costs and trade rules. Linked by “tariff” (tariffs and trade) in this story.
- SLX VanEck Steel ETF-0.3% 11d
VanEck Steel ETF: it holds steelmakers. Linked by “steel” (steel) in this story.
- VGK Vanguard FTSE Europe ETF
Vanguard FTSE Europe ETF holds stocks listed in Europe, which this story is about (“eu”).
- EWG iShares MSCI Germany ETF-2.5% 13d
iShares MSCI Germany ETF holds stocks listed in Germany, which this story is about (“merz”).
- CAT Caterpillar-27.2% 30d
Caterpillar (construction machinery and equip): importers and exporters pay or lose sales when tariffs change. Linked by “tariff” (tariffs and trade) in this story.
- DE Deere+0.7% 30d
Deere (farm machinery and equipment): importers and exporters pay or lose sales when tariffs change. Linked by “tariff” (tariffs and trade) in this story.
- WMT Walmart+19.7% 30d
Walmart (variety stores): importers and exporters pay or lose sales when tariffs change. Linked by “tariff” (tariffs and trade) in this story.
Price reaction, T-5 to T+3
| Ticker | T-5 | T-3 | T-1 | T0 | T+1 | T+2 | T+3 |
|---|---|---|---|---|---|---|---|
| XLI | -4.94% | -1.22% | base | -0.56% | after close | after close | after close |
| XRT | -1.37% | +0.47% | base | -1.72% | after close | after close | after close |
| SLX | -3.13% | +0.00% | base | — | after close | after close | after close |
| VGK | -1.21% | +0.58% | base | -0.61% | after close | after close | after close |
| EWG | -0.60% | +0.02% | base | -0.43% | after close | after close | after close |
| CAT | -8.01% | -0.49% | base | +0.72% | after close | after close | after close |
| DE | -4.00% | -0.02% | base | -1.79% | after close | after close | after close |
| WMT | +1.59% | -0.08% | base | +0.18% | after close | after close | after close |
Closing-price change versus T-1, the last close before the story. T0 to T+3 fill in after each market close. Prices: Alpaca IEX.
EU Stainless Steel: Earning More, Still Calling for Tariffs steelnews.biz
Source: steelnews.biz
How far Select Sector Spdr Tr (XLI) has moved since 12 Nov 2026
| Company | When | Move | Status |
|---|---|---|---|
| Caterpillar (CAT) | that day | +0.72% | final price |
| Caterpillar (CAT) | three days earlier | -0.49% | final price |
| Caterpillar (CAT) | five days earlier | -8.01% | final price |
| Deere (DE) | that day | -1.79% | final price |
| Deere (DE) | three days earlier | -0.02% | final price |
| Deere (DE) | five days earlier | -4.00% | final price |
| EWG | that day | -0.43% | final price |
| EWG | three days earlier | +0.02% | final price |
| EWG | five days earlier | -0.60% | final price |
| Vaneck Etf Trust (SLX) | three days earlier | 0.00% | final price |
| Vaneck Etf Trust (SLX) | five days earlier | -3.13% | final price |
| Vanguard Intl Equity Index F (VGK) | that day | -0.61% | final price |
| Vanguard Intl Equity Index F (VGK) | three days earlier | +0.58% | final price |
| Vanguard Intl Equity Index F (VGK) | five days earlier | -1.21% | final price |
| Walmart (WMT) | that day | +0.18% | final price |
| Walmart (WMT) | three days earlier | -0.08% | final price |
| Walmart (WMT) | five days earlier | +1.59% | final price |
| Select Sector Spdr Tr (XLI) | that day | -0.56% | final price |
| Select Sector Spdr Tr (XLI) | three days earlier | -1.22% | final price |
| Select Sector Spdr Tr (XLI) | five days earlier | -4.94% | final price |
| Spdr Series Trust (XRT) | that day | -1.72% | final price |
| Spdr Series Trust (XRT) | three days earlier | +0.47% | final price |
| Spdr Series Trust (XRT) | five days earlier | -1.37% | final price |
Trades by members of Congress and officials in the stocks in this story
- Rep. Lisa McClain bought Caterpillar (CAT) (held by a spouse), worth $1,001 - $15,000 on 28 Sep 2026. That is 45 days before publication. Filed 12 Oct 2026. View the filing.
- Rep. Rohit Khanna bought Walmart (WMT) (held by a dependent child), worth $15,001 - $50,000 on 13 Oct 2026. That is 30 days before publication. Filed 5 Nov 2026. View the filing.
- Rep. Rohit Khanna sold Walmart (WMT) (held by a spouse), worth $1,001 - $15,000 on 7 Oct 2026. That is 36 days before publication. Filed 5 Nov 2026. View the filing.
- Rep. Pete Sessions sold Walmart (WMT) (held by a spouse), worth $50,001 - $100,000 on 2 Oct 2026. That is 41 days before publication. Filed 27 Oct 2026. View the filing.
- Donald J Trump, an executive branch official, bought Nike (NKE), worth $15,001 - $50,000 on 28 Aug 2026. That is 76 days before publication. Filed 8 Oct 2026. View the filing.
- Rep. Gilbert Cisneros sold Nike (NKE), worth $15,001 - $50,000 on 27 Aug 2026. That is 77 days before publication. Filed 10 Sep 2026. View the filing.
- Donald J Trump, an executive branch official, sold Nike (NKE), worth $100,001 - $250,000 on 21 Aug 2026. That is 83 days before publication. Filed 8 Oct 2026. View the filing.
Public disclosure filings, not a recommendation. The filing link is the source document. News use of these reports still sits under 5 U.S.C. § 13107(c).
Who is named in “EU Stainless Steel: Earning More, Still Calling for Tariffs”
Companies mentioned with this story
- XLI Select Sector Spdr Tr
Select Sector Spdr Tr (XLI) is linked, with no stored direction, medium confidence in the 12 Nov 2026 story “EU Stainless Steel: Earning More, Still Calling for Tariffs.” Reason on file: Industrial Select Sector SPDR: it holds companies hit by import costs and trade rules. Linked by “tariff” (tariffs and trade) in this story
- XRT Spdr Series Trust
For “EU Stainless Steel: Earning More, Still Calling for Tariffs,” Spdr Series Trust (XRT) is linked, with no stored direction, medium confidence. Reason on file: SPDR S&P Retail ETF: it holds companies hit by import costs and trade rules. Linked by “tariff” (tariffs and trade) in this story
- SLX Vaneck Etf Trust
In “EU Stainless Steel: Earning More, Still Calling for Tariffs,” Vaneck Etf Trust (SLX) is linked, with no stored direction, medium confidence. Reason on file: VanEck Steel ETF: it holds steelmakers. Linked by “steel” (steel) in this story
- VGK Vanguard Intl Equity Index F
For “EU Stainless Steel: Earning More, Still Calling for Tariffs,” Vanguard Intl Equity Index F (VGK) is linked, with no stored direction, medium confidence. Reason on file: Vanguard FTSE Europe ETF holds stocks listed in Europe, which this story is about (“eu”)
- CAT Caterpillar
Caterpillar (CAT) is linked, with no stored direction, medium confidence in the 12 Nov 2026 story “EU Stainless Steel: Earning More, Still Calling for Tariffs.” Reason on file: Caterpillar (construction machinery and equip): importers and exporters pay or lose sales when tariffs change. Linked by “tariff” (tariffs and trade) in this story
- DE Deere
For “EU Stainless Steel: Earning More, Still Calling for Tariffs,” Deere (DE) is linked, with no stored direction, medium confidence. Reason on file: Deere (farm machinery and equipment): importers and exporters pay or lose sales when tariffs change. Linked by “tariff” (tariffs and trade) in this story
- WMT Walmart
In “EU Stainless Steel: Earning More, Still Calling for Tariffs,” Walmart (WMT) is linked, with no stored direction, medium confidence. Reason on file: Walmart (variety stores): importers and exporters pay or lose sales when tariffs change. Linked by “tariff” (tariffs and trade) in this story
- NKE Nike
For “EU Stainless Steel: Earning More, Still Calling for Tariffs,” Nike (NKE) is linked, with no stored direction, medium confidence. Reason on file: Nike (rubber and plastics footwear): importers and exporters pay or lose sales when tariffs change. Linked by “tariff” (tariffs and trade) in this story
How “EU Stainless Steel: Earning More, Still Calling for Tariffs” reaches Select Sector Spdr Tr (XLI)
The 12 Nov 2026 story “EU Stainless Steel: Earning More, Still Calling for Tariffs” names Select Sector Spdr Tr (XLI) because of this story.
For Select Sector Spdr Tr (XLI), the reason on file says Industrial Select Sector SPDR: it holds companies hit by import costs and trade rules. Linked by “tariff” (tariffs and trade) in this story
A second company, Spdr Series Trust (XRT), is listed for a different reason: SPDR S&P Retail ETF: it holds companies hit by import costs and trade rules. Linked by “tariff” (tariffs and trade) in this story
The price range for Select Sector Spdr Tr (XLI), and the dates in the story
SLX traded between 101.26 and 105.17 across 10 sessions. The latest close on file is 103.58. XLI traded between 163.00 and 172.33 across 20 sessions. The latest close on file is 169.73.
How solid “EU Stainless Steel: Earning More, Still Calling for Tariffs” looks
46 out of 100
“EU Stainless Steel: Earning More, Still Calling for Tariffs” scores 46 out of 100. The score uses 1 sources, and 8 linked companies.