India–US Trade Tensions Rise Over Steel and Auto Tariffs NMDC Limited reports a 38% drop in Q4 FY24 consolidated net profit RINL to Raise $23 Million Through Land Sales Amid Crisis
Shares of Cleveland-Cliffs (NYSE: CLF) dropped nearly 7% this week as the U.S. and Mexico moved closer to a deal that could ease longstanding steel tariffs. The proposed agreement would allow a fixed volume of Mexican steel to enter the U.S. either duty-free or at reduced rates, with tariffs reimposed on shipments exceeding the quota.
This potential policy shift rattled the U.S. steel sector. Investors reacted swiftly—Cleveland-Cliffs fell around 6.5%, Nucor lost about 4%, and U.S. Steel declined slightly. The changes could weaken the protective tariff structure that has supported U.S. producers since the Trump administration.
Mexico, currently the third-largest exporter of steel to the U.S., stands to benefit under the proposed cap-and-quota system. However, industry stakeholders are voicing concerns over possible loopholes that might allow steel from other countries to enter the U.S. through Mexico.
While the agreement has yet to be finalized, the market impact is already being felt, prompting a fresh look at tariff-sensitive industrial stocks.
Also Read : Jefferies highlights India as the only major economy with 33% steel output growth from 2019–2024. Strong domestic demand and policy support drive future outlook. Biden administration declares $207 Mn for fertiliser & rural clean-energy projects
India's scrap imports rose by 15% on-month in May, reaching 0.61 million tonnes after four months of...
Raw Material 11-Jun-2024
GAIL, India's biggest natural gas company, revealed a remarkable 703% increase in its net profit for...
Large Corporate 29-Jan-2024
Hindustan Copper Limited (HSL), a state-owned company, reported that its copper concentrate output i...
Large Corporate 03-Apr-2024
The Union Budget for the financial year 2024-25 may bring some relief on the minimum threshold, inpu...
Small Enterprises 11-Jan-2024
The European Commission plans to slash steel import quotas by nearly 50% and introduce tariffs of up...
Europe 03-Oct-2025
Hindustan Zinc Ltd (HZL) may postpone its reorganisation proposal to create two independent firms fo...
Large Corporate 22-Mar-2024