Trade

Trump’s Steel Tariffs Threaten to Worsen Glut of Metal in Asia

Asian producers face tougher competition as US raises barriers
Regional markets already struggling with China’s export surge

Steelmakers from Asia to Europe and Latin America are already reeling from a flood of cheap Chinese steel, with the nation’s 2024 exports touching a nine-year high above 110 million tons. — Steelmakers from Asia to Europe and Latin America are already reeling from a flood of cheap Chinese steel, with the nation’s 2024 exports touching a nine-year high above 110 million tons.
Photographer: Qilai Shen/Bloomberg

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By Katharine Gemmell and Martin Ritchie

February 21, 2025 at 2:39 AM UTC

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Vietnam and India are among fast-growing Asian steel producers at risk of being hurt if President Donald Trump goes ahead with blanket tariffs on all US imports of the metal.