Steel Products Manufacturers NAICS 3312

Sep 21, 2025 - Trump to Extend Tariffs to Steel Products

• To reshore production and strengthen national security, the Trump administration in August expanded its 50% tariff on imported steel and aluminum to include more than 400 additional product categories, CNBC reports. The tariff list now covers products such as fire extinguishers, machinery, construction materials, and specialty chemicals that either contain, or are contained in, aluminum or steel, according to CNBC. As a result, US companies that import finished goods and parts that contain a high percentage of the two metals will be subject to stiff tariffs. The Wall Street Journal reports that the administration is considering some tariff relief for US automakers and tech firms. The US steel and aluminum industries have enthusiastically supported tariffs on lower-priced imports and have encouraged President Trump to add duties to imported finished products.
• According to the latest quarterly Dallas Fed Energy Survey, more than a quarter (27%) of oil-and-gas companies active in Texas and adjacent territories plan to cut back on capital spending in 2026, reducing demand for steel pipe used in energy production. By comparison, nearly 40% expect spending on capex to rise next year. The survey of business leaders at exploration and development companies and oilfield services firms found the drop to be concentrated among large producers, with 75% saying they now expect to drill fewer wells this year than planned to at the start of 2025. By contrast, only 34% of leaders from smaller companies said they’ve scaled back their plans. The share of business leaders surveyed in the second-quarter who said they expect to trim capex in the next year was the highest since late 2023.

• The sudden doubling of tariffs on US steel imports from 25% to 50% in June, has steel traders facing a “nightmare” scenario, Fastmarkets reports. President Trump’s doubling of the import tariffs on June 4 has introduced significant uncertainty to the US steel market, with steel traders reporting disruptions to imports, paused domestic mill quotes, and concerns over potential price increases amid modest demand, according to Fastmarkets. Industry participants – including manufacturers of steel products – are having to assess how the additional costs will be absorbed across their supply chains. “Importers are scrambling right now, and customers who bought imports are also scrambling to ensure they have steel in the next 30-60 days,” a West Coast trader told Fastmarkets. While makers of steel products can avoid the steep tariffs by buying steel produced in the US, traders say they expect domestic mills to raise their prices.
• Producer prices for steel product manufacturers from purchased steel rose 5.1% in August compared to a year ago, after falling 8.3% in the previous August-versus-August annual comparison, according to the latest US Bureau of Labor Statistics data. Producer prices for makers of steel products have tumbled 25% from their peak in May 2022, when strong demand from key customer industries drove prices to new highs. More recently, prices have risen by 7.3% since January 2025. Industry employment grew 0.5% year over year in July, while average industry wages at primary metals manufacturers rose 0.6% YoY in August to $28.89 per hour, down about $1 from its high in March, BLS data shows.