The Canadian Steel Producers Association (CSPA) has urged Canada to engage with the US administration to avoid the tariffs threatened by the Trump administration by Feb. 1. “The imposition of tariffs on Canadian goods will have an incredibly disruptive impact on our integrated North American supply chains and on our workers and their families,” François […]
Mexican steel trade association Canacero said US steel exports represent “a threat to the Mexican steel industry.” Canacero also backed retaliatory measures if President Trump enacts 25% tariffs on Mexico by Feb. 1.
Nucor Corp. posted sharply lower fourth quarter earnings on Monday driven in part by lower average selling prices at its steel mills. The Charlotte, N.C.-based steelmaker also warned that first-quarter results might not be much better in commentary released with earnings data. But Nucor said that it expected better times later in 2025. It also hinted at the possibility of ramped up trade restrictions – including more stringent Section 232 tariffs.
The Trump administration has backed off tariffs on Colombia after the White House said the leader of the Latin American nation agreed to President Trump’s demands. “The Government of Colombia has agreed to President Trump’s terms, including the unrestricted acceptance of illegal aliens from Colombia returned from the United States… without limitation or delay,” according […]
President Donald Trump on Sunday hammered Colombia with 25% tariffs and threatened to increase them to 50%. Trump in a post on Truth Social said he took the action not because of a trade dispute but because the South American nation had refused to accept planes carrying deported immigrants. The president also cited "national security" concerns, just as he did to justify 25% Section 232 tariffs on steel in his first term. Even the 50% threat echoes his first term. Turkish steel, like that of most nations, was assessed a 25% tariff in March 2018. Trump doubled Turkey's tariff to 50% via a tweet in August of that year over a matter unrelated to steel.
Sometimes new presidential administrations hit the ground running. No time for change like the present. And sometimes new administrations blast off on a SpaceX rocket bound for Mars. There’s a big universe, and we’ve got a lot of flags to plant. Such seems to be the case with the new Trump administration.
President Donald Trump said on Monday evening that he was considering placing tariffs of 25% on imports from Canada and Mexico. The president said the tariffs could go into effect as soon as Feb. 1. President Trump threatened the tariffs as he signed a raft of executive orders in front of reporters in the Oval […]
The incoming administration said it also wants to streamline permitting and roll back regulations.
President Donald Trump has promised an “overhaul” of the US trade system, and in short order the unveiling of an “America First Trade Policy.” “I will immediately begin the overhaul of our trade system to protect American workers and families,” Trump declared in his inaugural address on Monday, Jan. 20. “Instead of taxing our […]
I wrote in a Final Thoughts a few years ago that it seemed all the swans were black. More recently, I’ve been asked by some of you what the wildcards are for 2025. You could probably make the case that all the cards are wild now.
We’ll talk about what to expect from the incoming Trump administration, the changing trade and tariff landscape, and what it all means for the domestic steel industry.
This may be the most consequential six months for trade policy in recent memory. The wait to see what form Trump's actions take is almost over.
It feels a little like déjà vu: Trump threatens tariffs, Canada retaliates with tariffs of its own.
Steel Manufacturers Association (SMA) President Philip K. Bell will join SMU for our first Community Chat of 2025. We’ll talk about what to expect from the incoming Trump administration, the changing trade and tariff landscape – and what it all means for domestic steelmakers, service centers, and manufacturers. Don’t miss out! Mark your calendar for Jan. 15 at 11 am ET.
The Trump administration may be considering alternative tariff plans, but Trump said the report is "Fake News."
The world has had a few shocks recently. The CEO of a major health insurance company was gunned down in Manhattan. The 50-year Assad dynasty in Syria was pushed out less than two weeks after rebels started an offensive. And President-elect Trump is promising tariffs on everything a month before he takes office. But one shock has been taking place for a lot longer than the last few weeks. The 70-year consensus on trade hasn’t just been challenged. It’s been repudiated.
With just over a month to go until Inauguration Day on Jan. 20, President-elect Donald Trump has already signaled some of his policy choices that will affect the steel industry.
We focused on trade actions the second Trump administration might take in a prior column. Since then, we have learned more about the individuals who will be leading these efforts. Recent nominations reinforce the president-elect’s statements that tariffs will feature prominently in the second administration and that trade actions will be unveiled at lightning speed.
The president-elect has wasted no time in using the threat of tariffs to reopen negotiations and, ideally, score other political wins along the way.
President-elect Donald Trump announced that Peter Navarro will serve as his senior counselor for trade and manufacturing.
“I am totally against the once great and powerful U.S. Steel being bought by a foreign company, in this case Nippon Steel of Japan,” Trump said in a post on Truth Social on Monday.
ITR economist Tyler St. Germain will join SMU for a Community Chat on Dec. 11 at 11 am ET. You can register here. The live webinar is free for all to attend. A recording will be available only to SMU members. We'll discuss the 2025-26 outlook for both the overall economy and also for manufacturing. We’ll in addition discuss how Trump administration policies when it comes to tariffs and immigration might impact the steel sector and key end use markets.
President-elect Donald Trump has nominated attorney and US Air Force Veteran Jamieson Greer to be the next US Trade Representative (USTR).
And so it begins (again). Not to be outdone by Thanksgiving, President-elect Donald Trump has threatened to impose tariffs of 25% on all imports from Canada and Mexico. He also threatened to hit all imports from China with tariffs of 10% - an amount that would come on top of a boatload of pre-existing duties and tariffs.
President-elect Donald Trump threatened on social media Monday evening to impose tariffs of 25% on all US imports from Canada and Mexico.
Are you still recovering from the election? If so, please get plenty of rest. Next year will require you to be awake and alert. Things are likely to change. We can’t be sure exactly how they will change yet.
Now that the dust has settled from the US election, as have the immediate reactions in the equity, bond, and commodity markets, this is a prime opportunity to look at how a second Trump presidency might affect the US steel market.
President-elect Donald Trump has named Wall Street veteran Howard Lutnick as the new US Secretary of Commerce.
China is one of the elephants in the room as the transition to Trump 2.0 continues. While the people and policies are still being formulated, it’s possible to detect a strategy for the new Trump administration. I think there are two imperative issues that the new administration needs to balance. The Trump strategy will, I believe, follow the following points. First, trade is one of the issues that got President Trump elected in 2016 and 2024—it nearly got him elected in 2020, save for the pandemic. If President Trump had won in 2020, I might be writing chronicles about the end of his eight years in the White House now instead of projecting what the next Trump administration would accomplish or break. Oh, well—that’s life. Trade will necessarily be a key feature of relations with China for the next four years.
Timna Tanners, managing director of equity research for Wolfe Research, will be the featured speaker on tomorrow’s SMU Community Chat. The webinar will be on Wednesday, Nov. 13, at 11 am ET. It’s free to attend. You can register here. Timna – who has coined Sheet Storm, Scrap Squeeze, and Galv Galore – is one of […]