Trump doubles steel tariffs to 50% in ‘major announcement'
President Donald Trump announced Friday that he would set tariffs on steel imported into the United States at 50%, double their current rate.
At a US Steel facility in West Mifflin, Pennsylvania, Trump said he had a 'major announcement.'
'We are going to be imposing a 25% increase,' Trump said. 'We're going to bring it from 25% to 50%, the tariffs on steel into the United States of America, which will even further secure the steel industry in the United States. Nobody's going to get around that.'
Trump said he was considering a 40% tariff, but industry executives told him they wanted a 50% tariff.
'At 25% they can sorta get over that fence,' Trump said. 'At 50% nobody's getting over that fence.'
This is a developing story and will be updated.
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18 minutes ago
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23 minutes ago
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24 minutes ago
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Subscription gross margin was also a bright spot, coming in at 80%, on an adjusted basis. Operating cash flow, meanwhile, represented a new quarterly record and helped drive the team to a 25% free cash flow margin and double-digit free cash flow growth, sequentially. Kurtz said on the call that customers who adopt the Falcon Flex subscription — over 820 accounts, so far — spend more, commit to longer durations, and tend to adopt the Falcon platform more quickly, with more than 75% of those contracts already deployed. The Falcon Flex model allows customers to achieve a low total cost of ownership while optimizing security by letting them swap one security module for another as needed. During the quarter, Kurtz noted that the team "added $774 million of total Falcon Flex account value, bringing the total deal value of accounts that have adopted Falcon Flex to $3.2 billion." That represents a 31% increase versus the prior quarter and a greater than six-fold increase versus the year-ago period. Given the strong momentum seen in the first quarter, Kurtz is confident that we will see even better sequential net new ARR growth in the current quarter, with an acceleration in the back half of the year, consistent with prior commentary. Guidance For full-year fiscal 2026, CrowdStrike management expects total revenue of $4.74 billion to $4.81 billion, unchanged from the prior guide. But at the midpoint, it was slightly below the $4.79 billion consensus estimate, according to FactSet. The company raised its adjusted EPS outlook to a range of $3.44 to $3.56, which at the midpoint was above the $4.46 expected. Adjusted operating income was also raised to between $970.8 million and $1.01 billion, which at the midpoint of $990.8 million outpaced the $976 million expected. 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THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
