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Thyssenkrupp, SSAB scale up steel shipments; long wait for tariff leniency ahead

Canada 470 European Union 776 Materials - Metals/Mining 709 Metals - Aluminum 227 Metals - Steel 481 Mexico 840 Tariffs 1768 Trade Deals 978 USMCA 452

The U.S. and EU are continuing their negotiations to resolve the future of U.S. Section 232 steel and aluminum duties, with a commitment to completing discussions by Nov. 1. Other Section 232 tariffs have recently been abandoned, while plans on both sides for Carbon Border Adjustment Mechanisms complicate matters. U.S. steel and aluminum imports from the E.U. fell by 17.0% year over year in Q2’21 versus Q2’19 while those from Canada and Mexico, which are not subject to duties, increased by 84.7%. There’s been a pickup in U.S. seaborne imports recently with imports from the EU in July ris...

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