US Steel Orders Halted: Canada, Mexico Reject Trump Tariffs
Anticipating a potential re-imposition of tariffs by President Trump, Canadian and Mexican steelmakers are halting new U.S. orders. This action, impacting major suppliers like Stelco Holdings Inc. and impacting distributors such as Flack Global Metals, stems from concerns that steel imports from Canada and Mexico will not receive an exemption from the threatened 25 percent tariffs. With Canada being the top foreign steel supplier to the U.S. and Mexico the third largest, this uncertainty significantly impacts the U.S. steel market, which relies heavily on imports. The situation reflects a wavering confidence among steel producers in the face of the unpredictable trade policy.
John Q. Hosedrinker