Unsurprisingly, the Trump-Xi Beijing summit ended without a major announcement on trade. Behind the celebratory mood and photo-ops are years of economic harm from China’s predatory trade practices that cannot be overcome in a single meeting.
US Commerce Secretary Howard Lutnick said the US should pursue separate, bilateral trade negotiations with Canada and Mexico instead of renewing the US-Mexico-Canada Agreement (USMCA).
Lewis Leibowitz: Recent rulings suggest courts are reinforcing legal limits on tariff authority.
The process to reduce Section 232 steel and aluminum tariffs for producers in Mexico and Canada garnered mixed reactions from steel and metals’ supply chain advocacy groups.
The Trump administration's invocation of the Defense Production Act authorizes the Department of Energy to use DPA tools to accelerate construction, expand domestic manufacturing capacity, and shore up critical supply chains – all areas with direct implications for steel.
It's cliche to say it. But spring traditionally brings new hope and green shoots—whether that's looking forward to vacations or increased business activity. While I viscerally share these positive feelings, I can’t help but thinking of three areas where I'm not feeling very hopeful. Namely, the US electrical grid, the national debt, and the Iran war.
USMCA provides strong support for North American competitiveness. US manufacturing has lost considerable capabilities over the last few decades. “Cheating” by other countries is not the only reason. Nor is it even the most important reason
According to the latest findings from SMU’s survey, more respondents answered that President Trump’s tariff policies have been helpful to their businesses than in the prior survey.
No doubt, events will scramble the status quo. Meanwhile, the global systems that have prevented major wars for 80 years are sagging.
If I had to sum it up, I’d say “pain at the pump” is back. AAA says gasoline now averages more than $4 per gallon nationally ($4.08 to be precise) for the first time in for years. Meanwhile, diesel prices average $5.40 per gallon, according to the US Energy Information Administration. That’s up $1.81 per gallon from a year ago.
The Trump administration has implemented changes to its steel and aluminum tariff framework that alter how duties are applied to imported manufactured goods, according to an April 2 presidential proclamation.
U.S. Steel has confirmed the restart of the B blast furnace at its Granite City Works near St. Louis.
The ongoing Middle East conflict, the resurgence of broad-based tariffs under Section 122 of the Trade Act of 1974, and the looming US midterm elections are not isolated developments. Rather, they form a kind of feedback loop in which each issue influences, and is influenced by, the others.
Sometimes it feels like current events are like a fireworks show that got set off all at once by mistake. In all the commotion, it's hard to know where to look... or where to run.
Since the Supreme Court struck down President Trump’s use of IEEPA tariffs, a judge at the Court of International Trade (CIT) has ordered refunds of all IEEPA tariffs. Still, Trump is trying again with a Section 122 global tariff.
Tariff-related litigation in the US and around the world reflects the willingness of the president to act without consulting Congress or our trading partners. We're seeing the impulse to act without congressional approval in international relations too.
Entering 2026, tin has led a frenzied base metal rally during a historic phase for commodities. Frothy market conditions, driven by volatile investor positioning and shifting macro risk sentiment, pushed several metals—including tin—to record highs in January, before a sharp correction in February.
The wait for an answer is finally over (sort of). In a six-to-three decision, the Supreme Court invalidated the Administration’s use of the International Emergency Economic Powers Act (IEEPA) to impose tariffs.
On Friday, the Supreme Court released its long-awaited decision on the IEEPA (International Emergency Economic Powers Act) tariffs imposed by president Trump beginning last April. As most of you already know, by a six-to-three majority, the Court ruled against the president.
The latest 10% tariff is expected to be enacted over the next several days using Section 122.
The US House of Representatives voted on a resolution on Wednesday, Feb. 11, to disapprove of President Trump's national emergency declaration that led to the imposition of tariffs on Canada.
Last week, news stories (first in the Financial Times) appeared that the Trump administration was working on adjustments to steel and aluminum derivative tariffs. Ostensibly, these tariffs are only imposed on the steel or aluminum “content” of derivative products. But Customs has not provided clear guidance on how to calculate content. Confusion and controversy are running rampant.
Tariffs affect different parts of the economy differently. Tariffs on steel imports have contributed to price increases from domestic mills, improving their bottom lines. But orders from customers are slowing down, hurting downstream industries’ profitability and job prospects.
A coalition of US steel industry CEOs has formally urged President Trump to maintain—and fully enforce—current Section 232 tariffs on steel and steel‑containing goods.
President Donald Trump in a post on Truth Social threatened to impose 100% tariffs on all exports from Canada into the US. It would be boastful (but not entirely inaccurate) to say you read it in SMU and heard it on Aluminum Market Update (AMU) first.
If forced to choose between Canada and Mexico, many manufacturers are likely to prioritize Mexico as the more important manufacturing hub.
Does the level of geopolitical uncertainty get to the point where it impacts not only the stock market but also the broader steel market? Could we see a repeat of Liberation Day, or will the news cycle move on to something else by the end of the week? I don't pretend to know what might happen in Davos. Suffice it to say, it’s going to be a newsy week.
We’ve got some exciting announcements to make about the Tampa Steel Conference, which is now less than a month away! First, I’m very happy to say that Worthington Steel President and CEO Geoff Gilmore will be joining Kloeckner Metals CEO John Ganem on the stage for a fireside chat with my colleague David Schollaert.
Last week, the government of China reported a trade balance of $1.12 trillion in 2025, the largest merchandise trade surplus in history. And this surplus was despite massive tariffs imposed by the United States and other countries, partly in an effort to rein in China’s trade juggernaut.
Demand for heavy steel plate used in offshore wind farms faces renewed uncertainty after President Trump paused leases for five offshore wind projects.