Steel industry executives urge tariff vigilance

Representatives from Recycled-content steel producers Steel Dynamics Inc. (SDI) and Nucor Corp. were among those who testified at a recent meeting of the Congressional Steel Caucus in Washington.

Barry Schneider, president and chief operating officer (COO) of Fort Wayne, Indiana-based SDI, urged elected officials and the administration of Donald J. Trump to exercise continued vigilance in enforcing the Section 232 tariff on imported steel, says the Washington-based Steel Manufacturers Association (SMA). Schneider also serves as board chair of that organization.

According to the SMA, Schneider characterized the steel industry as well positioned, crediting an administration focused on rebuilding manufacturing in the United States and a Congress that delivered considerable tax changes.

At the same, SMA says Schneider cautioned caucus members that the industry cannot afford complacency, characterizing the People’s Republic of China as continuing to ship excess steel capacity into global markets at historic levels.

“China produces far more steel than it can ever use, dumping 118 million tons on the global market last year alone,” said Schneider, adding, “That record is predicted to climb even higher this year, putting steelworkers everywhere at risk.”

Schneider, whose 10 page testimony statement is available through the SMA website, characterized the U.S. recycled-content electric arc furnace (EAF) steel sector as one that has invested heavily to compete.

The executive said SMA members between 2022 and 2026 “will have announced, started or finished new capex projects worth more than $25 billion, leading the way in the electrification and modernization of America’s steel industry.”

Schneider also urged attention to how the United States-Mexico-Canada Trade Agreement (USMCA) is structured, saying the two U.S. trading partners have not been as vigilant at keeping out Chinese steel or manufactured items made with such steel.

“Producers of steel-intensive goods in both countries continue to rely on steel from non-market, excess-capacity sources, including China,” stated Schneider. “Between 2020 and 2024, Mexico’s steel imports from China surged by 59 percent, while Canada’s rose by nearly 75 percent.”

Joining Schneider on the panel was Ben Pickett, executive vice president of Nucor and vice chair at SMA. The organization says Pickett told lawmakers American steel companies such as Nucor are helping to build a dynamic and secure domestic economy and creating high-wage jobs for American workers.