Defenders of the 50% global tariffs on steel imposed last year have framed them as a bulwark—an essential line of defense for American industry against unfair foreign competition. It’s a compelling narrative: protect domestic steel, protect national security, and preserve good-paying jobs. But new data tell a different story—one that should alarm policymakers.
Consider what has happened over just the past year. Steel exports to the United States from Asian countries have surged. According to data from the Steel Import and Monitoring Analysis System of the U.S. Department of Commerce, India doubled its shipments. Indonesia nearly tripled. Malaysia quintupled. Turkey was up 27%; Taiwan, a major exporter, 8%.
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