Steel Industry Leaders Urge Trump to Implement Tariffs

Nine prominent U.S. steel industry executives have urged President Trump to maintain a firm stance against tariff exemptions on steel imports, emphasizing that any exemptions could jeopardize national security and undermine the intended effects of tariffs. They expressed concern over the historical increase in import volumes due to past exemptions and warned of the negative impact on the domestic market amidst a global oversupply crisis. Meanwhile, Canada is preparing to retaliate with matching tariffs on American steel should the U.S. proceed with a 25% tariff set to take effect soon. Canadian officials are advocating for immediate retaliatory measures to protect their domestic market while negotiations with the U.S. continue. In South Korea, steelmakers are collaborating with the government to mitigate the effects of the impending U.S. tariffs, considering potential strategies such as establishing manufacturing facilities in the U.S. to adapt to the changing trade landscape.