The 25% tariffs on imported steel could be a boon for Cleveland producers like Cleveland-Cliffs, but hurt manufacturers and consumers.

The European Union estimates that the first wave of Donald Trump’s steel and aluminum tariffs will hit as much as €28 billion ($29.3 billion) of the bloc’s exports in what would be a massive escalation in the US president’s trade war.

The European Commission is investigating whether to tighten its current system of quotas on steel imports to protect EU producers from new tariffs U.S. President Donald Trump plans to impose on incoming steel and aluminium on March 12.

The Coalition of American Metal Manufacturers and Users (CAMMU) has warned that "Re-Imposing 25 percent tariffs on steel and aluminum imports from our allies and without a workable exclusion process puts U.

Canada supplies roughly 60% to 70% of the imports that come into the U.S. market. Canadian suppliers like Rio Tinto produce high quality aluminum that is typically sold to stateside buyers.