Trump’s tariffs to hit steel trade

Imports of finished steel into the United States plummeted in February 2025 by 6.2% year-on-year, to 1.5 million tonnes (Mt), following a jump to 2.2Mt in January this year, ahead of Trump’s tariffs coming into effect. 

In the meantime, crude steel production in the United States declined by 7% over the same period and by 11.7% compared to January 2025, reaching 6Mt, despite the launch of additional steelmaking capacities late last year. 

According to the American Iron and Steel Institute (AISI), US steel shipments totalled 7 million net tonnes (approx. 6.35Mt), down 0.9% compared to February 2024 and by 5.4% compared to January 2025.

That said, in February, shipments from Europe rose by 15.7% year-on-year, to 242kt. Asian suppliers raised exports to the United States too, with South Korean and Japanese shipments up to 179kt and 103kt, respectively. At the same time the neighbouring countries such as Canada and Mexico saw a drop in their finished steel deliveries over this period, to 410kt and 168k, respectively.