White House Press Release - American Steelmakers Are Thriving Under President Trump

The U.S. steel industry is back under President Donald J. Trump. After languishing under a Biden-era stranglehold — plagued by unfair foreign competition, job losses, and weakened national security as imports flooded the market and domestic production stalled — the steel industry is quickly roaring back to life.

U.S. steelmakers are proving that strong leadership and protective tariffs are the keys to revitalizing American manufacturing.

• Ohio-based Cleveland-Cliffs announced record steel shipments in Q2 2025.
  • CEO Lourenco Goncalves: "Cliffs is a major supplier of steel to the automotive manufacturers, and the Trump Administration continues to show strong support to both the domestic steel and the domestic automotive sectors. We have started to see the positive impact that tariffs have on domestic manufacturing, protecting domestic jobs and national security. We expect this trend to continue, promoting the resurgence of the American automotive industry supported by a thriving domestic steel industry."
    
• Indiana-based Steel Dynamics saw a 39% increase in operating income and a 19% increase in adjusted EBITDA in Q2 2025.

• North Carolina-based Nucor expects its Q2 2025 earnings to be approximately four times higher than the preceding quarter.

• President Trump's perpetual Golden Share as part of the investment in Pittsburgh-based U.S. Steel protects the iconic American company's financial health and ensures its jobs cannot be exported — a win-win for American workers and industry.