Tag: Section 232

Fully restored Section 232 tariffs on steel on March 12 cut the widening premium US prices had over most imports on a landed basis.

A quick way to catch up on what you might have missed.

Let's take a look at different tariff scenarios.

Domestic hot-rolled (HR) coil prices moved higher this week, still largely outpacing increases seen in offshore markets. But the reinstatement of undiluted Section 232 tariffs on steel on March 12 cut the ballooning premium stateside prices had gained on most imports on a landed basis. The premium stateside tags had over prices abroad stood at […]

“CBP expects full compliance from the trade community for accurate reporting and payment of the additional duties. CBP will take enforcement action on non-compliance," the agency said in a March 7 bulletin.

Section 232 tariffs are expected to go into effect March 12.

The penalties are expected to be reinstated on Wednesday, March 12. 

US cold-rolled (CR) coil prices continued to rise this week, well ahead of offshore prices. The price spread between stateside-produced CR and imports reached a 14-month high in the week ended March 7. Steady price gains in overseas markets continue to be overshadowed by increases in domestic prices. The result? The US premium over imports […]

The Trump 1.0 tariffs appeared to have little positive effect on the US manufacturing, partly because they hurt export competitiveness.

Domestic hot-rolled (HR) coil prices moved higher this week, widely outpacing increases seen in offshore markets.

April 2 is when reciprocal tariffs are expected to kick in.

Hot-rolled (HR) coil prices continued to rally in the US this week, quickly outpacing price gains seen abroad. The result: US hot band prices have grown widely more expensive than imports on a landed basis. The premium US HR tags carry over HR prices abroad now stands at a 14-month high. SMU’s average domestic HR […]

President Trump has directed Commerce Secretary Howard Lutnick to investigate copper imports into the US under Section 232 of the Trade Expansion Act of 1962 on national security grounds.

It won't be so easy to restart idled aluminum production in the US, AMU says.

The US steel market has whipsawed upward on the prospect of expanded Section 232 tariffs of 25% being applied to imported steel - including downstream goods - on March 12. It seems pretty clear that domestic steel mills have the ear of the Trump administration when it comes to Section 232. The result? The much-anticipated Trump bump has finally arrived - and then some.

Do we want the benefits of the Section 232 tariffs to flow to the bottom lines of foreign steel and aluminum producers or to the US government and, ultimately, domestic manufacturers and their workers? In our view, the answer is simple. Section 232 exceptions do nothing more than lead to underserved profits for foreign manufacturers who are harming the US industrial base. That revenue could be used to pursue the Trump administration’s other policy priorities - such as deficit reduction or expanded tax cuts.

US primary output is at its lowest level this century

US sheet prices surge following tariff announcement

I think it’s fair to say that the last few weeks – and last week especially – have been among the most intense for any of us covering steel (or aluminum).

New duties could give companies like Alcoa and Century Aluminum revenue gains that could boost production

Automakers, construction, manufacturers raise concerns

The problem is that the situation in Washington is so fluid that no one really knows what to expect

US steel prices set to jump after President Trump levies new tariffs.

A lot of the changes basically entail rolling back what I’ll call, for fun, Section 232 Lite. S232 Lite resulted from watering down what I’ll call OG S232 – the one first imposed in March 2018 - with exemptions and exclusions over the years. Now, OG Section 232, is back with its across-the-board 25% tariffs against everyone.

The new version of Section 232 goes into effect on 12:01 am ET on March 12, according to the executive order. The latest iteration of Section 232 removed quotas, exemptions, and other carve outs that had accumulated over years.

USMCA is option 1 but will cost more or not be big enough

Trump made a clarification in a speech on Monday. Previously, he had declared the word “tariff” the most beautiful word in the dictionary. No longer.

“More needs to be done to ensure that these illegally dumped and subsidized imports do not continue to distort the American market in a road profitability," Nucor's CEO said.

President Donald Trump on Sunday hammered Colombia with 25% tariffs and threatened to increase them to 50%. Trump in a post on Truth Social said he took the action not because of a trade dispute but because the South American nation had refused to accept planes carrying deported immigrants. The president also cited "national security" concerns, just as he did to justify 25% Section 232 tariffs on steel in his first term. Even the 50% threat echoes his first term. Turkish steel, like that of most nations, was assessed a 25% tariff in March 2018. Trump doubled Turkey's tariff to 50% via a tweet in August of that year over a matter unrelated to steel.

Day One of the second Trump administration did not bring tariffs, but it did signal that tariffs, and other major trade actions, are not far off.