Tag: tariffs

Canadian Prime Minister Mark Carney has threatened legal action against Cleveland-Cliffs over the layoffs announced earlier this week at its Stelco mill in Hamilton, Ontario.

US steel industry groups representing most of domestic steel production are urging the Trump administration to tighten trade measures on steel imports from South Korea. They are seeking a South Korea-specific tariff-rate quota (TRQ) and an investigation into a reported import surge.

In 2015, finished steel imports were 29% of apparent domestic consumption of steel, as estimated by AISI. In 2025, the import share had fallen to 18%. Steel lobbyists think that is progress, but the reality is more complex.

US sheet buyers have grappled with supply scarcity in both the spot and contract markets throughout 2026. Now the supply squeeze is spilling over into 2027, according to market participants.

Several steel trade organizations have called on President Trump to resist weakening Section 232 steel tariffs.

The American Iron and Steel Institute (AISI) is pressing President Donald Trump to raise the issue of China’s steel exports and industry subsidies during his upcoming summit with Chinese President Xi Jinping.

The phrase “Fortress North America” seems to resurface anytime US, Canada, and Mexico trade negotiations roll around. The idea of an economic Fortress North America burst onto the scene in the late 1980s and early 1990s in the lead up to NAFTA. In theory...

The rally in steel sheet prices is officially a year old. We haven’t seen a yearlong price rally since 2021, when a snapback in demand following the early days of the pandemic resulted in one of the biggest steel market booms since World War II.

United Steelworkers (USW) International President Roxanne Brown urged US and Canadian trade representatives to reach an agreement that puts working families first. Her words come as trade talks between the two nations remain at an impasse, and escalating tensions have led to new tariffs on both sides. “This conflict is hurting jobs. It’s hurting facilities. It’s hurting communities. And it’s creating uncertainty for workers and families in both countries,” Brown said at a press event on Tuesday.

The US sheet market is really feeling the squeeze. It’s not just spot tons that are a concern. Contract tons are increasingly scarce too.

A policy that protects steel production while making downstream American manufacturing less competitive internationally merely moves the injury along the domestic supply chain.

Canada’s retaliatory tariffs on US goods have drawn support from Canadian steel producers and labor groups. Meanwhile, US manufacturers and trade officials are calling for renewed negotiations as the dispute adds costs and uncertainty to cross-border supply chains.

The retaliatory measures—which include 50% tariffs on US steel and aluminum—came after trade talks between Washington and Ottawa collapsed last month.

Rather than recruiting other countries to help, the US appears intent on threatening to punish countries, including its closest friends. In my experience, this strategy has never proved productive. 

Panelists on the trade panel at SMU Steel Summit 2026 reflect on issues affecting the industry.

First, a big thank you to everyone who attended SMU Steel Summit this week and the inaugural AMU Aluminum Summit as well. I’m not going to crow too much about it being another record year in terms of attendance. But it was—and you made that possible. Also, it’s always great to see the entire steel […]

Steel buyers expect prices to keep rising in the near term and report steady-to-improving demand and lean inventories. Imports remain competitive despite risks.

SMU’s average price for domestic hot rolled (HR) rose to $1,200 per short ton (st) week on week (w/w). In offshore markets, prices also rose, outpacing stateside gains.

Canada has moved to impose new tariffs on US goods, matching tariffs the US has imposed on it.

Barry Schneider, Steel Dynamics’ president and COO, and chairman of the Steel Manufacturers Association (SMA), said transshipment is a central trade policy concern. Speaking during a fireside chat Monday afternoon at the SMU Steel Summit 2026 in Atlanta, he identified steel, fabricated products, and pipe as areas exposed to potential leakage through the two USMCA partners.

The Canadian Steel Producers Association (CSPA) has voiced its concern over the latest US tariffs on the country and the lack of a trade deal.

The SMU Steel Summit kicks off on Monday in Atlanta, and we could spend the entire time just discussing trade developments since the last Summit.

SMU’s average price for domestic hot rolled (HR) rose to $1,195 per short ton (st) week on week (w/w). In offshore markets, prices saw a more controlled rise.

A potential trade deal with Canada and a possible reduction in Section 232 tariffs has rocketed back into the news just a few weeks after it seemed like negotiations between Washington and Ottawa were kaput.

A trade deal between the US and Canada is reportedly pending that could halve Canada’s Section 232 steel and aluminum tariffs and see automobile tariffs lowered from 25% to 15%.

S232 tariffs of 50% provide a signal to domestic producers. Domestic prices have risen by approximately 50%. Similarly, the tariffs have simply moved the competitive threshold for imports 50% higher.

We’re a little over a week away from the opening of SMU Steel Summit, one of the largest gatherings of flat-rolled steel professionals in the world. If you’re registered, I encourage you to download the conference app. You’ll use it not only for networking but also to ask questions to our speakers. You’ll also need […]

The US Commerce Department is seeking additional comments on 14 derivative items for possible Section 232 duties.

SMU’s average price for domestic hot rolled was unchanged week on week at $1,180 per short ton. In offshore markets, prices mainly moved up.

Earlier this week, SMU polled steel buyers on an array of topics, ranging from market prices, demand, and inventories to tariffs, imports, and evolving market events. We are sharing a selection of the comments we received below, in each buyer’s own words.