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Checking in on the Global Steel Industry

Mark O'Hara
Checking in on the Global Steel Industry

The steel industry is global in nature, and developments outside the United States can affect the US steel industry (XME). To be sure, the US steel industry has somewhat decoupled from the global steel industry this year after the imposition of Section 232 tariffs. Donald Trump has imposed a flat tariff of 25% on steel imports from some countries. For the countries that have been temporarily exempted from the stringent tariffs, the Trump administration is trying to negotiate quotas to keep US steel imports in check. The tariffs would be in addition to any trade remedies already in place.