“We applaud the president for instituting these 25% tariffs on steel imports and getting rid of exclusions, carveouts and quotas that are based on antiquated data,” SMA President Philip K. Bell tells Reuters.

The tariff on steel imports, announced yesterday by President Trump, is designed to support domestic steel production and American manufacturing jobs.

Read the Reuters article at https://www.reuters.com/markets/asian-eu-steelmakers-shares-fall-after-trump-escalates-tariffs-2025-02-10/.