New tariffs disrupt U.S. steel supply chains and costs

New 25% tariffs on steel and aluminum began on Wednesday, disrupting supply chains and increasing costs for U.S. companies. Automakers like Ford are facing rising expenses, prompting many to source materials domestically to avoid tariffs. A shipment of aluminum from India was halted at the Port of Tampa Bay as logistics providers scrambled to adjust. The vessel, originally set to make multiple stops, had to unload its cargo early to avoid tariffs, reflecting widespread disruptions across the country. U.S. steel prices have surged over 30% this year, benefiting domestic producers. However, trade partners like Canada and Mexico are concerned about retaliatory measures, which could further complicate supply chains and impact global trade dynamics.