• Skip to main content

    Market Segment

    February 13, 2025

    Manufacturers brace for higher costs with tariffs in play

    Written by Stephanie Ritenbaugh

    Manufacturers, automakers, and contractors along the supply chain are bracing for impact as 25% tariffs on steel and aluminum will soon be on the table.

    Trump authorized the new tariffs under Section 232 this week. However, unlike the first time Section 232 was employed during Trump’s first term in 2018, the latest iteration removed quotas, exemptions, and other carve-outs accumulated over the years. Meanwhile, Canada, Mexico and Europe are calling for retaliatory tariffs.

    Stephanie Ritenbaugh

    Stephanie Ritenbaugh is a reporter for Steel Market Update. She is an experienced business journalist, holding a variety of positions for trade publications and newspapers, including covering shale development for Gas Business Briefing/Platts and for the Pittsburgh Post-Gazette. She can be reached at stephanie.ritenbaugh@crugroup.com or +1 724-759-7868

    Read more from Stephanie Ritenbaugh

    Latest in Market Segment

    USS, USW to resume labor talks on Friday, union predicts progress

    The United Steelworkers (USW) union will meet with U.S. Steel (USS) on Friday as negotiations around terms of a new labor contract continue. The meeting comes after the USW and Cleveland-Cliffs, one of U.S. Steel’s competitors, agreed to a tentative labor agreement last week. “USS knows how this process works. They agreed to meet with us on Friday. The company knows they need to move, so this meeting should be productive,” the union said in a text to members on Wednesday.

    Steel market chatter: Tight supply, strong demand keep sheet prices climbing

    In this week's Market Chatter, steel buyers point to tight supply and steady demand as reasons sheet prices could keep rising, with many expecting HRC to reach $1,400-1,449 per short ton in two months. Views on when the rally will peak are mixed, with some anticipating further increases while others mention softening demand and political uncertainty. Respondents also disagree on tariffs' impact. They say reshoring is generating activity but has yet to translate consistently into demand.