US steel imports have fallen 30% year-to-date in 2026 compared to the same period in 2025, as expanded Section 232 tariffs on aluminum, steel, and copper continue to reshape the domestic production landscape. The decline reflects the combined effect of 25% baseline tariffs, the newly created Annex I-C mobile machinery category, and the lowered 85% domestic-content threshold incentivizing manufacturers to source domestically. Domestic steel producers have ramped up capacity utilization to 82%, the highest since 2021, while steel-consuming manufacturers face 15-25% higher input costs that are being passed through supply chains. The tariff regime is scheduled to sunset December 31, 2027, though industry analysts expect extensions or replacement measures.
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