CRU: U.S. Steelmakers Set to Lose as Trump Moves to Reinstate S232 Tariffs on Brazil

By CRU Principal Analyst Josh Spoores, from the CRU Steel Monitor

President Trump sent three tweets this morning that said, effective immediately, he would restore the steel and aluminum tariffs on Brazil and Argentina because the countries “have been presiding over a massive devaluation of their currencies, which is not good for our farmers.” No formal announcement has been made on the White House website.

Josh Spoores

Josh Spoores joined CRU in 2012 as Principal Analyst and editor of CRU’s Steel Sheet Monitor and Steel Sheet Market Outlook. During that time, Mr. Spoores forecast prices, demand, production and trade of sheet and plate products for both Canada and the US for CRU's Steel Sheet & Plate Market Outlooks. Today, he heads up steel analysis and forecasting for the Americas region. Prior to joining CRU, he was a Senior Marketing Analyst at Severstal North America, founder of Steel Reality, a forward-looking market analysis firm using a models-based approach for flat rolled and plate steel. He was also the Market Research Manager at Majestic Steel USA, one of the largest flat rolled service centres in the USA. He has a BSc in Business Administration from Bowling Green State University.