Steel trade war costs US companies $ 11.5 billion a year
US steel prices rose after Trump imposed 25 percent tariffs on imported steel for some countries in March, and then expanded tariffs for most countries in June, including Canada, Mexico and the European Union. As a result, steel prices on the domestic market were higher than in other countries, which increases the profits of American metallurgical enterprises, but puts US producers at a disadvantage for European and Chinese competitors.