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Trade Trends News
06-06-2025
On June 4th, U.S. President Donald Trump increased tariffs on imported steel and aluminum—key materials used in construction, packaging, and other industries—from 25% to 50%.
While the intent of these tariffs is to encourage domestic production investment, they have also raised costs for steel and aluminum consumers and negatively impacted the manufacturing sector.
Given the limited capacity to boost domestic production, U.S. import volumes are unlikely to decrease—unless rising prices significantly dampen demand—putting the spotlight on companies that heavily rely on these imports.
Aluminum Imports
Roughly half of the aluminum used in the U.S. is imported, with a large share coming from Canada, which exported 3.2 million tons of aluminum to the U.S. last year.
The total value of U.S. aluminum product imports in 2024 was $27.4 billion, with Canada, China, and Mexico as the top three suppliers.
The Aluminum Association reports that the transportation, packaging, construction, electrical, and consumer durables sectors are the largest importers of aluminum.
Based on U.S. Customs and Border Protection bill of lading data and OEC statistics, the top aluminum importers in 2024 include:
·ES Windows LLC: A leading importer of aluminum used in windows and curtain walls for construction; it accounted for 18.4% of total aluminum shipments.
·IKEA Group (headquartered in the Netherlands): Designs and sells ready-to-assemble furniture, home décor, and kitchenware; responsible for 6.34% of shipments.
·Nissan, Dollarama, and Lollicup (a supplier of disposable beverage and food containers): Each accounted for over 3% of total aluminum shipments.
Other major importers include Costco, Samsung, and Boeing.
Steel Imports
Around 25% of the steel used in the U.S. is imported, with a large portion sourced from neighboring countries Mexico and Canada.
According to OEC, U.S. imports of steel products totaled $49.7 billion in 2024, with China, Mexico, and Canada as leading exporters.
Based on U.S. Customs data, the largest steel importing companies in 2024 include:
Steel Products:
·IKEA: Accounted for 5.85% of total imports.
·SIGMA Corp: Represented 3.94%.
·Stelfast: A major supplier of industrial fasteners such as bolts and nuts; made up 3.32% of shipments.
·CrimsonLogic: A global tech firm; accounted for 3.21%.
Other notable importers include ZF Friedrichshafen (Germany), Continental Materials, Stihl, and Cosentino.
Raw Steel Materials:
·TPV Tech (electronics manufacturer): Held 18.9% of import volume.
·Valbruna Stainless: Accounted for 12.8%.
·Brose Fahrzeugteile (Brose Mechatronic Systems): Made up 5.89%.
·Robert Bosch GmbH: A global engineering and technology company; contributed 8.89% of steel import shipments.
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