New 50% Steel Import Tariff to Restart US Price Rises

Post Views: 510 Steel tariffs US Steel Prices Set to Surge After 50% Tariff Increase President Donald Trump’s recent decision to double the Section 232 steel import tariff from 25% to 50% is expected to ignite a renewed price surge in the US steel market. The move, announced on May 30, has already caused a jump in hot rolled coil (HRC) contracts for July and August, with prices climbing by over $100 per short ton. As a result, prices are now anticipated to surpass the previous 2023 peak of $900 per ton, recorded in April. The increased tariff aims to reduce low-cost steel imports flooding the ...