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Companies with the most to lose from Trump's tariffs

Photo: David Butow/Corbis via Getty Images

President Trump's decision to slap tariffs on steel and aluminum imports had an immediate effect on the stock market yesterday, driving the Dow 420 points lower and boosting U.S. steelmaker stocks. But several sectors that rely on steel and aluminum for raw materials are already feeling the heat from the tariffs, which go into effect March 5.


Accounting for 40% of steel demand, the U.S. construction industry is one of the world's largest, with "new construction" valued at around $1.16 trillion in 2016, per Statista. As the country's aging infrastructure begins to crumble, the sector is projected to grow to $1.42 trillion by 2021. These are the five largest American construction companies, per Engineering News-Record:

  1. Bechtel $32.9 billion (2016)
  2. Fluor Corp. $19.5 billion (2017)
  3. Aecom$18.2 billion (2017)
  4. Turner Corp$10.8 billion (2014)
  5. CB&I $10.7 billion (2016)


Domestic automaker stocks dropped about 3% Wednesday following Trump's announcement. The industry accounts for 26% of U.S. steel demand, and even foreign carmakers with major manufacturing plants in America, like Toyota, are warning of "substantially' higher prices, per Axios' Dan Primack. These are the four biggest American automakers by revenue.

  1. Ford$156.8 billion
  2. General Motors$145.6 billion
  3. Fiat Chrysler$136.7 billion
  4. Tesla$11.8 billion


As Axios' Ben Geman reported, trade tensions between Trump and the oil-and-gas industries — which accounted for 10% of steel demand in 2017 — are boiling over in the aftermath of the tariff announcement. Pipeline companies specifically may be forced to cancel projects, since trade restrictions on steel would increase pipe costs 25%. Here are the five largest oil and gas companies in the U.S, according to 2017 revenues:

  1. ExxonMobil $186.3 billion
  2. Chevron$134.7 billion
  3. Valero $67.6 billion
  4. Marathon Petroleum $53.7 billion
  5. Enterprise Products$29.2 billion
Haley Britzky 6 hours ago
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Zuckerberg happy to testify if it is "the right thing to do”

A portrait of Facebook founder Mark Zuckerberg
A portrait of Facebook founder Mark Zuckerberg. Photo: Jaap Arriens / NurPhoto via Getty Images

Facebook CEO Mark Zuckerberg said he would be "happy" to testify before Congress if it was "the right thing to do," in an interview with CNN's Laurie Segall.

Why it matters: Facebook has been under the microscope lately for what Zuckerberg called earlier today the "Cambridge Analytica situation." Zuckerberg said if he was the "person...who will have the most knowledge," then he'd be the one to testify in the face of Facebook's data-collection situation.

Bob Herman 5 hours ago
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Jamie Dimon's $141 million payday

JPMorgan Chase CEO Jamie Dimon speaks at an event.
JPMorgan Chase CEO Jamie Dimon speaks at an event in 2016. Photo: Win McNamee / Getty Images

JPMorgan Chase CEO Jamie Dimon took home more than $141 million in 2017 after calculating the actual realized value of his stock, according to a preliminary draft of the banking giant's annual proxy document. Dimon's compensation is calculated as $28.3 million when using the estimated fair value of his stock. But that compensation figure doesn't matter as much because it doesn't reflect what executives report in their personal income tax filings.

Why it matters: It's the highest pay package of any active corporate CEO from 2017, based on Securities and Exchange Commission documents that have been filed thus far. Dimon's compensation is also 1,818 times higher than what the average JPMorgan employee makes.