Although the United States imposes a 25% tariff on most imported steel products, imported steel products accounted for approximately 17% of the US market share in August, and total steel imports accounted for approximately 19% of the market share in the first eight months. According to data from the American Iron and Steel Institute, the United States imported 16.4 million tons of steel in the first eight months of this year, a decrease of 20.7% year-on-year. Finished steel imports fell by 26.9% to 11.21 million tons.
The United States plans to import 24.6 million tons of steel in 2020, a decrease of 11.9% compared with 2019. This includes 16.8 million tons of finished steel, down 20.1%.