Industry News

Steel Tariffs Helped the U.S. Steel Industry

Views : 273
Update time : 2020-11-06 21:55:40

Regarding “Steel Tariffs’ Boost Appears Short-Lived” (U.S. News, Oct. 29): The tariffs worked, lowering the market share of imported steel, increasing domestic capacity-utilization rates, allowing idled facilities to be restarted and encouraging the industry to make billions of dollars of investments in new and upgraded steel facilities. However, when the Covid-19 pandemic hit, steel demand and raw steelmaking capacity utilization plunged. American steelmakers were forced to close plants, lay off workers and delay investment activity. But if not for the tariffs, the impact would have been far worse.

 

Related News
Read More >>
What Tariffs, Steel Prices Mean for E&S Construction Insurance in California What Tariffs, Steel Prices Mean for E&S Construction Insurance in California
Apr .25.2025
What Tariffs, Steel Prices Mean for E&S Construction Insurance in California
Nickel Price Update: Q1 2025 in Review Nickel Price Update: Q1 2025 in Review
Apr .25.2025
Nickel Price Update: Q1 2025 in Review
Higher steel prices benefiting Region steel mills Higher steel prices benefiting Region steel mills
Apr .25.2025
Higher steel prices benefiting Region steel mills
Vale's net profit drops 17% on lower iron ore prices Vale's net profit drops 17% on lower iron ore prices
Apr .25.2025
Vale's net profit drops 17% on lower iron ore prices