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
The US steel and metals trade is bracing for a legal pivot after the US Supreme Court curtailed the White House’s ability to levy broad tariffs under emergency economic powers. US Trade Representative Jamieson Greer said the administration’s trade agenda will continue, even if the “tools” change.
Greer indicated the USTR will lean more heavily on Section 301 investigations into alleged unfair trade practices—opening the door to targeted retaliatory duties where negotiations don’t deliver. He also stressed that existing national-security tariffs under Section 232, including measures covering steel and aluminium, remain in force.
To bridge the gap after the ruling, the administration has also moved to a temporary 10% global import tariff using Section 122 of the Trade Act of 1974, aimed at maintaining leverage while longer investigations run.For steel buyers and traders, the message is continuity with a different rulebook: compliance pathways, product classifications, and country exposure could matter as much as headline tariff rates, with fresh volatility possible around probe timelines and exemptions.
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