The future of the North American steel industry's cross-border trade could be undermined by the U.
S. government's failure to commit to a long-term renewal of the USMCA, the new Market in Minutes podcast.
Laura Hodges, a member of the European Parliament and an analyst of the US steel market, discusses the current situation with the supply and demand of steel in the United States in a new issue of the regular podcast of MEPs, which provides an overview of steel markets around the world.
As previously reported by MEPs, the USMCA trade negotiations are ongoing. However, the Trump administration's position has led to an annual review of the agreement, which creates uncertainty about its current terms and duration. Hodges said the inconsistency in terms also jeopardized the hopes of steel market participants in Canada and Mexico for improved export opportunities.
"An important topic of discussion for both Canada and Mexico is that they hope to reduce some United States import duties not only on steel, but also on aluminum, automobiles, and even lumber for Canada. But it really makes it less likely that it will happen."
She added: "In the United States, at least, this will further support steel prices in the short term."
Hodges addressed the MEPs by Tom Sharp's executive editor at the last MEPs market in the minutes podcast. Listen to the full episode now to hear a more complete picture of the North American steel market, including:
- Is the weakening of the upward trend in U.
S. steel prices an indicator of long-term reductions?
- How steel imports to the United States are growing due to limited supply and high prices.
- The role of data center development in maintaining steel demand in the construction sector.
- Feedback from respondents from among the MEPs in Canada and Mexico on the consequences of the deterioration of trade relations with North America.
Check out the latest issue of the "MEPs in March" program.
Watch the podcast "in a few minutes" right now on YouTube https://www.youtube.com/watch?v=TpNOvX5ky8U&feature=youtu .be , Podcasts on Spotify or Apple https://podcasts.apple.com/us/podcast/fragile-usmca-reduces-likelihood-of-tariff-cuts/id1756464954?i=1000776581594 .
The podcasts of the MEPs International Metallurgical Report regularly contain information about the steel markets in the USA and Canada. The monthly report contains steel prices, price indices, market comments and price forecasts for 12 months. The European Parliament's Emerging Steel Markets Report contains information on the Mexican steel market. Contact the members of the European Parliament for more information about the subscription.
