US Steel Tariffs Halt Canadian, Mexican Orders
Canada and Mexico’s steelmakers are refusing new US orders, a significant development stemming from the looming threat of increased tariffs. This strategic pause isn’t born of malice but rather a calculated response to the uncertainty created by potential policy changes.
The decision by Canadian steel producer Stelco to halt sales quotes to US consumers reflects a cautious approach amidst the impending tariff threat. This isn’t an isolated incident. Mexican steel suppliers are exhibiting similar behavior, choosing to forgo new orders until the situation clarifies. Large steel buyers have confirmed this trend, highlighting the widespread impact of the anticipated tariffs.
This uncertainty is amplified by the fact that while Mexico and Canada currently enjoy an exemption from the broader 25% steel tariff imposed earlier, the industry increasingly fears this exemption may not hold.… Continue reading
Matt Underwood