Steel buyers enter tariff era as ships rerouted, trucks halted

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Economic Times Logo Economic Times 12h ago

Steel buyers enter tariff era as ships rerouted, trucks halted - Economic Times

Quick Summary:

The new 25% tariffs on steel and aluminium disrupted supply chains, escalated costs for companies like Ford, and pushed US businesses to source domestically.

Key trade partners express concerns about the wider impacts of these tariffs.

Domestic steel prices are up more than 30% this year — which will flow directly into steelmaker coffers — and the only remaining pure-play American aluminium producer, Century Aluminium Co., is up 6.5% this year.