US import costs for steel and aluminum are projected to surge over $100 billion annually following a 50% tariff increase. This follows earlier tariffs imposed by the Trump administration. The Boston Consulting Group estimates an added $52.6 billion yearly cost on steel and aluminum products. Analysts predict disruptions to global trade, though the extent remains uncertain. The impact varies across nations, with potential export losses for Canada, Mexico, and South Korea. European producers face a de facto import ban, while US producers are expanding production but at a slower pace.

Prepared by Christopher Adams and reviewed by editorial team.