Steel News Updates

Steel giant ArcelorMittal is investing $1.2 billion to build an Alabama mill slated to produce advanced steel by 2027 for hybrid and electric vehicle motors to feed into the U.S. supply chain.

When asked what chief executive officers think about his recently announced steel and aluminum tariffs, Trump said they’re “in love with them.” U.S. Steel is “through the roof,” he said.

President Donald Trump on Feb. 10 removed the exceptions and exemptions from his 2018 tariffs on steel, meaning that all steel imports will be taxed at a minimum of 25%. 

WASHINGTON — President Donald Trump said he will announce Feb. 10 that the U.S. will impose 25% tariffs on all steel and aluminum imports, including from Canada and Mexico.

 President Donald Trump indicated Nippon Steel is considering investing in United States Steel instead of an outright purchase.

Pentwater, the third-largest investor in U.S. Steel, said it opposes moves by activist investor Ancora Holdings Group to shake up the board of the American steelmaker.

“I want to have a stake in something that I’m going to be involved in,” Alan Kestenbaum said Jan. 27 in an interview. “If I get the chance to run the show, I’ll invest in myself.”

An asset manager is seeking to quash Nippon Steel’s takeover of U.S. Steel and oust the leadership of the U.S. steelmaker after taking a stake in the company.

Some steelmakers in Canada and Mexico are telling customers that they are refusing new orders to the U.S. on concerns that President Donald Trump soon will reimpose duties.

Canada’s draft plan to retaliate against U.S. tariffs may roll out in stages, with the government preparing to hit all American steel and aluminum products with counter-tariffs if necessary.