The U.S. government issued a new tariff announcement for imported steel, aluminum and copper products after a comprehensive review of the current trade situation. The authorities decided to keep the 50% tariff on most imported steel products unchanged, while setting a small number of targeted exemption clauses for individual partner countries and specific types of steel materials. Since the tariff policy was adjusted and raised in June 2025, the year-on-year volume of steel imports into the United States has decreased by 52%, which has effectively relieved operating pressure for domestic steel producers such as Nucor and Cleveland-Cliffs. Nevertheless, downstream manufacturing and construction enterprises hold different views. They reflect that high tariffs push up the procurement cost of raw steel, leading to the overall rise of production costs and weakening the competitiveness of local finished products.