Since Donald Trump’s return to the White House, global trade uncertainties have mounted, with businesses closely monitoring new U.S. tariff policies. On February 2, President Trump stated that he would soon announce new tariffs on multiple countries, signaling an escalation in his administration’s efforts to reshape global trade in favor of the U.S. While he did not specify which countries would be affected, Trump emphasized that the measures aimed to address U.S. budget concerns and fulfill campaign promises. As expected, on February 10 (U.S. time), Trump imposed a 25% tariff on all steel and aluminum imports, significantly higher than the existing rates. He also announced retaliatory tariffs matching those imposed on U.S. goods by trade partners. In response to these developments, the stock market saw sharp declines, particularly in the steel and corrugated sheet industries. During the February 10 trading session, leading steel stock HPG dropped 4.6%, with trading volume exceeding 60 million shares. HSG and NKG lost 4.6% and 3.5%, respectively. According to ACB Securities Company (ACBS), the newly imposed 25% tariff on steel and aluminum is expected to have a limited direct impact on Hoa Phat Group (HPG), as exports make up only 30% of its total revenue, […]