Issue 11, 2025 - This week's editorial: US attracts further imports, EU announces trade measures

US 25% blanket steel tariffs went into force last week, drawing retaliation from major trade partners Canada and the EU, and intensifying US President Donald Trump’s trade war. US hot rolled coil prices remained steady on-week following weeks of surges, as buyer caution stifled trading. The EU announced its safeguard review adjustment proposals, which disappointed the bloc’s steelmakers for not being tough enough, while India was spared any duty in the EU’s provisional HRC anti-dumping probe findings. A Vietnamese mill was heard to have sold substantial rebar tonnages in the US after the US market tariff-driven price surge, while Indonesian HRC was sold to the EU, where it is not subject to any import restrictions. Turkish scrap prices meanwhile hit a five-month high.

In response to US measures, Canada enacted tariffs on CAD 30 billion ($20.8 billion) of US goods, including a mirror-image 25% tariff on US-made steel. Canada’s steel association endorsed the move, adding that Canada must also levy tariffs on all steel and steel derivatives from China and “other known trade offenders” to stop unfair trade practices.

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