ArcelorMittal, a global leader in steel production, has announced it expects to lose approximately $150 million due to the new 50% US steel tariffs. These duties, introduced as part of the latest wave of protectionist trade policies, are set to significantly impact companies with cross-border operations, particularly those heavily reliant on US markets.
The company emphasized that the financial loss would stem from both direct tariff costs and downstream effects on product competitiveness and market share. ArcelorMittal, which supplies a wide range of industries from construction to automotive, sees this as a serious disruption to its North American operations.
These developments come as part of a broader concern within the steel industry about escalating trade barriers and their long-term consequences on global supply chains. With other countries expected to retaliate or reassess their trade partnerships, the fallout from the tariffs could widen further in the months ahead.
Vietnam Steel by Hoa Sen Group
