The Donald’s 25% Tariff Did Not Make American Steel Great Again

The year 2019 has not been kind to this declaration. The litany of awful results for America’s steelmakers this year, as reported by Sapra and Wiseman, is worth quoting at length: For the first few months after Trump’s tariffs took effect, steel prices did rise. The price of a metric ton of hot rolled band steel hit $1,006 in July 2018, according to the SteelBenchmarker website, which tracks steel prices. Since then, it has plunged to $557 — lower than before the tariffs.