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 […]
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.
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 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%.
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.
US steel exports recovered 7% in June, marking the highest monthly rate recorded since January 2025. Despite the recoveries seen over the last six months, trade has been historically weak for over a year and remains weak compared to 2022-2024 volumes.
Licenses to import steel into the US surged in July to the highest level since June 2025, according to recently released US Commerce Department data. Final June figures show a 3.8% month-on-month decline, while July licenses show a 9% recovery.
The US-flag Lake Carriers Association reported steady iron ore trade on the Great Lakes in July.
This CRU insight is the third installment on how El Niño may impact the steel and steelmaking raw materials markets.
It’s tough to find a new angle to write about in a market that continues to be characterized by the same trends. You know the ones: extremely limited spot tons, long lead times, low inventories, and high prices.
SMU’s average price for domestic HR rose to $1,180 per short ton (st) this week, $15/st higher vs. the prior week. In offshore markets last week, prices mainly moved up.
US anti-dumping and countervailing duties (AD/CVDs) on light-walled rectangular pipe and tube from four countries will remain in place for another five years after a key injury determination.
Editor’s note This is an opinion column. The views in this article are those of an experienced trade attorney on issues of relevance to the steel market. They do not necessarily reflect those of SMU. We welcome you to share your thoughts as well at smu@crugroup.com. My colleague and friend Alan Price wrote last week about […]
The decisive factor remains the 50% Section 232 tariffs. Still, imports from Europe remain largely near parity with domestic material, while Southeast Asian products are at a considerable discount.
Algoma Steel narrowed its earnings loss by 13.2% in the second quarter as the company's electric-arc furnace (EAF) steelmaking ramped up further.
Foreign steel is gaining traction with US buyers, according to SMU's most recent Flat-Rolled Steel Survey. Most manufacturers and service centers now report competitive pricing, and more are placing new foreign orders.
The busy summer for US trade, which we wrote about previously, is heating up with new Section 301 forced labor duties of 10-12.5% imposed on 60 countries and new Section 338 duties of 50% announced on certain Canadian imports.
The US Department of Commerce is adjusting the import duties on Korean cold-rolled and galvanized steel after two administrative reviews.
Steel and many steelmaking raw materials have been spared from additional forced labor Section 301 tariffs.
US Trade Representative (USTR) Jamieson Greer will travel to Mexico from Wednesday to Friday this week to continue bilateral discussions related to the USMCA joint review.
Downstream consumers of steel account for many times the employment in steel production. Yet the tariff manufacturers in the federal government have paid scant attention to the needs of most manufacturers.
Steel exports eased 1% in May and remain significantly lower than trade of previous years.
SMU’s average price for domestic HR remained flat, holding firm for the past three weeks. In offshore markets last week, prices mainly moved higher.
Monthly steel imports rose back above 2 million short tons (st) in May and June, further recovering from the historic lows seen late last year, according to recent Commerce data.