Tag: Trump

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. 

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. As we close out 2025, my best wishes to all […]

Canadian Prime Minister Mark Carney said the US probably won't reduce tariffs on steel, aluminum, and other goods from Canada anytime soon.

SMU and AMU are pleased to announce that Wells Fargo Managing Director Timna Tanners will be joining us for a Community Chat webinar on Wednesday, Dec. 17, at 11 am ET.

In our opinion, it is striking that for all the bold talk about establishing a "common external tariff" — or "Fortress North America" — the solutions being proposed fail to live up to their promises. As we have commented recently, USMCA certainly needs a rethink. But we have serious concerns about Canadian and Mexican proposals that suggest common trade policies that are, as we see it, more illusory than effective.

We can be grateful for some things. One is the regional agreement between the US, Canada, and Mexico that is currently undergoing review. A decision is expected by July 2026 on whether to extend the agreement, which is set to expire in 2036, for another 16 years (to 2052). Three days of hearings just concluded with comments of five minutes’ duration from more than 50 witnesses.

U.S. Steel has begun the process of restarting the 'B' blast furnace at its Granite City Works near St. Louis. “After several months of carefully analyzing customer demand, we made the decision to restart a blast furnace,” U.S. Steel President and CEO David B. Burritt said in a statement on Thursday afternoon.

The whole world waits for the Supreme Court to rule on the validity of President Trump’s International Emergency Economic Powers Act (IEEPA) tariffs. Meanwhile, the ground is shifting. Just this past week, the president changed the direction of tariff policy. He belatedly concluded that taxes on imports of products that we don’t make in the United States are inflationary

Want to know the latest on Trump, tariffs, and trade policy – and the impact on both steel and aluminum? Join Steel Market Update (SMU), Aluminum Market Update (AMU), and leading law firm Wiley for a Community Chat on Thursday, Nov. 13, at 11 am ET.

US President Donald Trump and Chinese President Xi Jinping on Thursday had a much-anticipated meeting. Is it only a hiatus in the trade war, or did it really change the situation? I suspect the former, I but hope for the latter.

Want to know the latest on Trump, tariffs, and trade policy - and the impact on both steel and aluminum? Then join SMU, AMU, and leading law firm Wiley for a Community Chat on Thursday, Nov. 13, at 11 am ET.

SMU’s latest survey results indicate that steel market participants think sheet prices are at or near a bottom. But most also think there is limited upside once they inflect higher.

Trade groups cautioned that a prolonged shutdown could strain US industry.   

The United Steelworkers (USW) is pushing for transparency after Algoma Steel announced earlier this week that it has received CA$500 million in financing from the Canadian government.