Community Events
March 17, 2026
SMA's Bell views S232 tariffs as effective, but USMCA agreement needs improvement
Written by Ethan Bernard
The Steel Manufacturers Association’s (SMA’s) Philip K. Bell believes President Trump’s steel tariffs have been effective so far, and thinks we should remain “solution-focused” regarding the upcoming USMCA review.
“We believe the steel tariffs have been very effective,” Bell, SMA president and CEO, said at a press conference on Monday during the group’s annual meeting held in San Antonio, Texas, together with the Metals Service Center Institute (MSCI).
From the vantage point of early 2026, he said three things have occurred as a result of the administration’s trade policies.
“Number one, we’ve seen an uptick in investment in new steel mills and steel mill upgrades to the tune of about $25 billion,” he said.
He also pointed out for the first time in over a quarter of a century, the US has surpassed Japan and become the third-largest steel-producing nation in the world. (Bell spoke to SMU about this here.)
“We have also seen imports decrease, and we have seen production go up year over year,” Bell added. “Those are all solid indicators the tariffs are working.”
However, he said in terms of enforcement, “We do have a serious issue still with transshipment.”
“There are still bad actors using very clever ways to find different approaches to getting steel to our shores,” Bell said.
He believes, as a result of this, the administration should “shift its focus on enforcement and also insist on keeping the 50% (S232) tariffs in place, even with our trading partners like Canada and Mexico.”
USMCA review
Speaking of North America, the USMCA is up for review starting on July 1 of this year.
Bell said, though the prospects for what will occur remain to be seen, “I think what’s important to understand is what’s about to take place is a mandated review of the USMCA, it’s not going to be renegotiated yet.”
“I think we need to realize that the USMCA needs to improve,” Bell said. “Market conditions have changed. Trade policies have changed since its inception, and we also need to understand that it’s perfectly OK if it’s pursued on two tracks.”
He noted the first United States-Canada-Mexico agreement began as a bilateral agreement between the US and Mexico; later, Canada was brought on board.
Bell said the original USCMA, ushered in during 2020 in President Trump’s first administration, was successful, “but we have to make it better.”
“I think that you could see a lot of different scenarios where you have a bilateral agreement with Mexico and a bilateral agreement with Canada,” Bell said. “You could see where the sides just decide to disagree.”
Still, Bell referred to the language of the agreement: “It will still be in place for another decade, so there’s no imminent threat of losing the current USMCA. So let’s stay solution-focused and figure out how we can make it better.”
