U.S. Imports: It’s a Steel
While the Trump administration introduced tariffs of 25 percent on the import of steel and 10 percent on aluminum, many of the United States’ most important steel trading partners were granted exemptions, at least temporarily. These exemptions apply to the selected major steel exporters shown in the chart below, including the European Union, Brazil, Canada, Mexico, and South Korea. Russia is not on the list for exemptions.
While Canada is America’s most important steel provider by metric tons, it’s the European Union whose steel imports to the United States have the highest value. Only steel from South Korea costs more per metric ton.