Tag: trade

But profits slipped vs. last year.

United Airlines raised eyebrows earlier this month when it provided two forecasts for 2025 – one assuming a relatively stable economy and another assuming a recession. The reason? Uncertainty around the impact of President Trump’s policy shocks on the broader economy. And it sometimes feels like we’re seeing a battle between those two narratives (stable vs recession) play out within in the pages of this newsletter.

Container shipping lines have sharply increased blank sailings on Transpacific routes in response to escalating trade tensions between the US and China.

Meanwhile, an increasing number think it's too early to say whether the penalties are going to bring more manufacturing to the US.

Operational results painted a picture of a company that produced more aluminum but shipped less of it as a result of tariffs and timing mismatches.

Should foreign investment be allowed to reshape the American steel Industry? Not to be lost in the recent on-again-off-again tariff frenzy, Nippon Steel’s proposed takeover of U.S. Steel has also found itself in President Trump’s crosshairs when it comes to trade and industrial policy. Nippon Steel initially announced its nearly $15-billion bid for U.S. Steel […]

The constant flow of information we all receive can be a bit overwhelming, but SMU is here to help with a weekly snapshot.

The volume of steel exported from the US declined in February, reversing January’s surge, according to the latest US Department of Commerce figures. This comes just two months after export levels had fallen to a two-year low.

Recall that shipments also saw a sharp decline in January.

Despite ordering a new review of Nippon Steel’s bid for U.S. Steel, President Trump said he is still against selling USS to a Japanese company, according to media reports.

SMU polled steel buyers on an array of topics this week, ranging from market prices, demand, and inventories to imports and evolving market events. We are sharing some of the comments we collected.

US steel imports returned to normal levels in February after climbing to a near three-year high in January, according to finalized trade data published by the US Commerce Department. March license data suggests imports have remained within this normal range.

The constant flow of information we all receive can be a little overwhelming, but SMU is here to help with a snapshot of the week.

Supply chains are working through what the tariffs mean for them

The US Commerce Department on Friday released preliminary anti-dumping margins in a trade case targeted imports of coated flat-rolled steel from 10 countries. Certain countries and mills were hammered while others were largely spared. Brazilian steelmaker CSN, for example, received a preliminary rate of 137.76%. Some Turkish mills – including Boreclik and ArcelorMittal Celik Ticaret – received no dumping margin at all.

Latest tariffs could lead to US metallurgical coal exporters (many already high-cost swing producers) being priced out of the market.

The Commerce Department has made a preliminary determination that ‘critical circumstances’ exist for certain imports of corrosion-resistant (CORE) flat-rolled steel from the United Arab Emirates (UAE). Commerce decided that critical circumstances did not apply to CORE from South Africa. The department also found that critical circumstances did not apply to CORE from UAE producers Al-Ghurair Iron & Steel LLC and United Iron & Steel Company LLC.

Announcing tariffs is easy. Implementing them at the border? That’s a whole different ball game.

President Trump’s promised “Liberation Day” has arrived, with a 10% minimum tariff on imports. But there are some very important exceptions: The United States’ USMCA partners, Canada and Mexico, are excluded from the reciprocal tariffs for now. In addition, steel, aluminum, as well as autos and auto parts are excluded from the reciprocal tariffs. That’s […]

The constant flow of information we all receive can be a little overwhelming, but SMU is here to help with a snapshot of the week.

President Trump said on Monday there may be exceptions for some countries on reciprocal tariffs.

These developments come at a time when the global trading system has been shaken up by US President Donald Trump’s greater use of tariffs, including employing Section 232 legislation to impose a 25% levy on steel from all countries to protect national security.

Which is more important: producers or consumers? New (and arbitrary) steel and aluminum tariffs took effect last Wednesday. Based on the Section 232 trade restrictions initially imposed in 2018 – and kept by the Biden administration – they abrogate agreements between the US and Canada, Mexico, the UK, the EU, Argentina, Brazil, and Australia. They […]

Canada and the European Union are retaliating against what they deem to be unjustified tariffs on steel and aluminum by the United States.

US steel exports recovered to a five-month high in January after having fallen to a two-year low in December. This growth follows four consecutive months of declining exports.

Steel imports ended 2024 on a low note, with November trade falling to a one-year low and December seeing a modest 3% recovery. Then as the new year began, import volumes spiked.

Facing an uncertain tariff trade war, Algoma Steel took action this week, halting steel shipments to the US, laying off employees, and prepping for an unknown future, according to local media reports.

Manufacturing activity exhibited slight to modest increases across a majority of districts. However, manufacturers expressed concerns over the potential impact of looming trade policy changes between late January and February.

On 4 March, new 25% blanket tariffs across all products exported to the USA from Canada and Mexico are now in effect. The only exception is Canadian energy products, which will be assessed a 10% tariff.

While Congress has given the president enormous power over trade policy, the president wants to test the limits of that authority. If there are no guardrails, our economic and political liberty may be on the block. Stay tuned.