Analysis
February 24, 2026
Tampa Steel Conference: SMA and CSPA outline trade pressures, enforcement priorities
Written by Laura Miller
Leaders of the Steel Manufacturers Association (SMA) and the Canadian Steel Producers Association (CSPA) used this year’s Tampa Steel Conference to outline the North American steel industry’s central challenges: growing pressures, tariff realignments, and the upcoming USMCA review.
CSPA President and CEO Catherine Cobden said global excess steel capacity – particularly China’s roughly 700 million tons – remains the “core” issue impacting North American markets. Excess capacity is distorting prices and driving unfair trade, she said. “Metal floats quite well all over the world and ends up in North America,” she commented, noting the impact on both Canadian and US producers.
SMA President and CEO Philip Bell echoed the concern, calling global excess capacity “the number one issue.” He pointed to rising trade remedies worldwide, noting the EU and ASEAN have enacted larger percentage increases in trade actions than the US in recent years as countries attempt to shield their markets.
US and Canada trade responses
While explaining the Trump 2.0 administration’s rationale for tightening Section 232 tariffs, Bell noted only 18% of US steel imports were covered by the tariffs at the time of President Trump’s second inauguration. The administration responded swiftly by applying tariffs evenly across all countries, doubling the rates to 50%, eliminating exclusions, and strengthening enforcement. “In the president’s mind, I think he believes he’s got the tariffs the way they need to be,” Bell said.
Cobden detailed Canada’s response. She described a host of new measures implemented since March 2025 to demonstrate “equivalent and effective outcomes” to US policy. The country has introduced tariff-rate quotas (TRQs) on both free-trade and non-FTA countries, a 25% derivative tariff, and a global-first 25% tariff on China-melted steel. She reported Chinese imports into Canada have fallen by more than 50%, and overall imports are down roughly 15% under the new regime.
Both leaders emphasized the need for stronger enforcement. Cobden highlighted Canada’s new steel compliance team within the Canada Border Services Agency, which has expanded cooperation with US Customs and Border Protection.
Fortress North America and USCMA review
The concept of “Fortress North America” surfaced several times in the discussion. Bell said achieving it requires three primary steps: aligning trade remedies across the US, Canada, and Mexico; adopting strong melt-and-pour standards; and tightening automotive rules of origin. Cobden noted Canada’s recent measures are designed to help create a “de facto North American perimeter.”
Looking ahead to the 2026 USMCA review, both leaders said the agreement’s first iteration strengthened regional steelmaking and increased consumption of North American steel. They identified opportunities to expand rules of origin to additional steel-containing goods and to embed a USMCA-wide melt-and-pour requirement directly into the agreement.
Cobden cautioned the industry must prepare for all scenarios, including the possibility of no agreement. “Hope is not a strategy,” she remarked. Bell added that other sectors – including lumber, beef, and pharmaceuticals – will influence negotiations. He expressed confidence in the expertise of US trade officials.
232 tariffs and political rhetoric
During audience Q&A, Bell said the SMA supports keeping Section 232 tariffs in place during USMCA negotiations. He argued the US should not “negotiate against itself.” Cobden reiterated Canada’s position that its realignment with US steel objectives should eventually justify the removal of 232 tariffs on Canadian steel.
Both leaders also addressed recent political comments that have strained US-Canada relations. Cobden said remarks questioning Canada’s sovereignty have “deeply discouraged” Canadians and complicated government-to-government cooperation. There have been inflammatory statements from politicians on both sides of the border, Bell admitted, but encouraged everyone “to really step back a bit and kind of isolate some of the provocative statements.” Cross-border steel trade and ownership remain deeply integrated, he noted.
Energy demands
Bell raised electricity availability as a growing concern for EAF steel producers. “Data center guys are willing to pay anything for electricity,” he commented, warning of competition and upward pressure on power costs. The grid needs to be modernized, he stated. Likewise, Cobden said Canada faces similar challenges as it undertakes major grid buildouts.
