Steel execs praise Trump, call for firm hold on S232 ahead of USMCA review

A coalition of US steel industry CEOs has formally urged President Trump to maintain—and fully enforce—current Section 232 tariffs on steel and steel‑containing goods.

The group credits the strengthened tariff regime, including the increase to a 50% rate and expanded coverage to downstream derivative products, as key drivers of a resurgence in domestic steelmaking and new manufacturing investment.

“Your actions are yielding positive results, with companies making new manufacturing investments in the United States and reshoring production that had been taken offshore,” they said in a letter addressed to the president and dated Wednesday, Jan. 28.

The executives say these measures are already reducing unnecessary imports and revitalizing US steel production, but the letter argues the gains remain fragile and require long‑term policy certainty to fully take hold.

“While we are starting to see tangible, positive results from these actions, the full benefits of your commonsense trade policies will take time to materialize.”

The letter was signed by Lourenco Goncalves, chair, president, and CEO of Cleveland-Cliffs; Leon Topalian, chair and CEO of Nucor; David Burritt, president and CEO of U.S. Steel; Mark Millett, co-founder, chair, and CEO of Steel Dynamics; Peter Matt, president and CEO of CMC; Barry Zekelman, executive chair and CEO of Zekelman Industries; Mike Williams, CEO of Metallus; Clive Grannum, president and CEO of North American Stainless; and Robert Smith, CEO of JSW Steel USA.

Implementation gaps

Still, exemptions and enforcement issues are their top concerns. Notably, they say that auto parts from Canada and Mexico—still exempt pending guidance—and underreported steel content, specifically on steel derivatives, are undermining the policy’s effectiveness and broader trade strategy.

“It is critical that the tariffs you established on steel and steel-containing goods remain fully intact. Long-term certainty is essential for companies considering major capital investments in the United States.”

USMCA and rules of origin

The group backs tightening rules of origin during the 2026 review of the US-Canada-Mexico Agreement (USMCA) for steel-intensive goods. But it doesn’t stop there. Not only do they want Canada and Mexico to adopt Section 232–like protections, but the group stresses that Section 232 tariffs should continue to apply to the countries’ exports.

“Even if Canada and Mexico take steps to address imports at their borders, the US Section 232 steel tariffs must remain in place and should continue to apply to steel imports from both Canada and Mexico—historically two of the biggest importers of steel to the US market.”

The group calls on the administration to resist pressure from trading partners to weaken tariffs, framing the measures as essential to national security and the long‑term health of American manufacturing.

David Schollaert

David Schollaert is deputy editor-in-chief for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. He can be contacted at david@steelmarketupdate.com or 724-720-1008.