The imposition of new tariffs on this metal, announced by President Trump's administration, places it at the center of the US trade strategy.
The new trade war promised by Donald Trump since his return to the White House entered a new phase on Monday with the expected introduction of 25% tariffs on steel imported into the United States. The new tariffs on this metal, and on aluminum, announced by the US, further complicate the situation of its strategic market for a sector that was already destabilized by China's overproduction and the difficulties faced by European producers. During his first term (2017-2021), the US president already imposed tariffs on these materials to protect domestic industry, which he claimed was facing unfair competition.
Who exports steel to the United States?
Global crude steel production reached 1.89 billion tons in 2023, of which more than half (1.02 billion tons) was produced by China, the world's leading manufacturer, according to the latest figures available from World Steel.
The United States, far behind with 82 million tons produced, imported 26.4 million tons of this metal in 2023, making it the world's second largest importer, behind the European Union.
It is mainly supplied by Canada, with 5.95 million tons imported in 2024, according to the US Trade Administration.
It is followed by Brazil, the EU, and Mexico with 4.08, 3.89, and 3.19 million tons respectively, ahead of other countries such as South Korea, Vietnam, Japan, Taiwan, and China.
Why does Trump accuse China of unfair competition?
Global steel prices fell significantly last year due to overproduction.