SMU Survey: Buyers remain leery of tariffs, but more see reshoring happening

SMU latest steel-market survey reveals that steel market participants are weary of tariffs and are awaiting evidence of progress in reshoring.

In March, when blanket Section 232 tariffs of 25% went into effect, 29% of survey respondents thought the tariffs were helpful. This week, the number answering affirmatively is only 13% – which tracks with generally lower support for tariffs since ‘Liberation Day’ and the introduction of ‘reciprocal’ tariffs in April.