BlueScope set for higher profits from Trump steel tariffs

Simon EvansSenior reporter

Updated Feb 17, 2025 – 3.15pm, first published at 11.12am

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Australia’s largest steel maker, BlueScope, says prices in the United States have jumped 20 per cent since President Donald Trump restored 25 per cent tariffs on all imported steel.

BlueScope chief executive Mark Vassella said the higher steel prices on offer in the US market, where BlueScope generates about 45 per cent of its earnings, would outweigh the negatives if Chinese steel mills dumped more cheap steel into Australia as a result of the tariffs.

Simon Evans writes on business specialising in retail, manufacturing, beverages, mining and M&A. He is based in Adelaide.