US Steel Tariffs Cost Mills $39 Million in May Amid Rising Import Costs

Post Views: 265 US Steel Tariffs Impact of US Steel Tariffs on Import Costs US steelmakers faced a $39 million cost increase in May due to a 10% import tariff on steel feedstocks and ferrous scrap. The tariffs, imposed by the White House in early April, targeted pig iron, direct reduced iron (DRI), and ferrous scrap essential for flat-rolled electric arc furnace (EAF) steel production. According to US customs, steelmakers imported over 1 million metric tonnes of these materials, with a declared value near $386 million. Exemptions for Canada and Mexico, due to the US-Mexico-Canada Agreement, sl...