U.S. steel mills have seen almost a 5 percent jump in shipments so far this year, a sign that it’s benefiting from stiff 25 percent tariffs on imports the Trump administration imposed last year.
The American Iron and Steel Institute reported Monday that U.S. mills shipped 8.1 million tons in October, up 4.6 percent from the previous month and up 6 percent from the same period last year. So far this year, the industry has shipped 79.6 million net tons, 4.6 percent more than it had by this point last year.
AISI spokesman Jake Murphy told the Washington Examiner that domestic steel use has increased 1.4 percent so far in 2018, and that “Section 232 has played a crucial role as well,” referring to section of trade law used by the Trump administration to justify the tariffs.
According to U.S. Census Bureau data, U.S. imports of steel mill products declined 11 percent during the first 10 months of 2018 compared to the same period in 2017.
But while U.S. steel manufacturers are expanding, some in the business community have said the steel tariff and a 10 percent tariff on aluminum were hurting the broader economy. Chamber of Commerce President Tom Donohue on Monday called on the White House to restore tariff exemptions that Canada and Mexico had earlier this year.
“Every week that the tariffs remain in place, $500 million in U.S. imports and exports are affected, inflicting significant harm on American workers, farmers, and ranchers. They must be eliminated without delay,” he said.
