[SMM Iron & Steel] US Steel and Aluminum Imports Face 41.1% Effective Tariff Rate

Published: Apr 7, 2026 17:06

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The United States has maintained a restructured trade regime as of March 2026 that places an effective tariff rate of 41.1% on imported steel and aluminum products. This high rate reflects the combination of Section 122 global tariffs and existing Section 232 duties, which have significantly tightened domestic supply and allowed major US mills like Nucor and Cleveland-Cliffs to command significant premiums. While Canada and Mexico maintain exemptions under USMCA, the broader policy has raised costs for manufacturers relying on specialized alloys not produced locally.

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