US EditionUs Tariffs Corrode Steelmaker Arcelormittal's Profitability
UNITED STATES, JUL 31 – Operating earnings fell 10 percent to $3.4 billion as US steel tariffs raised costs, despite a 39 percent rise in net profit from exceptional gains and acquisitions, company reported.
- ArcelorMittal, the world’s second-largest steelmaker, reported a 39 percent rise in net profit to $2.6 billion for January through June 2025 despite US tariffs hitting its margins.
- The profit rise was driven by an unusual $1.7 billion benefit resulting from ArcelorMittal obtaining full ownership of Calvert by purchasing Nippon Steel's share, while in early June, US President Trump increased steel tariffs to 50 percent.
- ArcelorMittal operates in 15 countries and serves 129 markets, but its North American operations face complications due to tariffs on steel imports from Canada and Mexico, which are key suppliers.
- Chief executive Aditya Mittal emphasized that although ongoing geopolitical and tariff disruptions pose challenges, the company’s underlying business strength and global footprint in markets like India and Brazil allow it to grow.
- Mittal urged the European Union to protect its steel market from cheap Chinese imports and highlighted European increased defense and infrastructure spending as positive factors for a crucial year in steelmaking.
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US tariffs corrode steelmaker ArcelorMittal’s profitability
The world's number two steelmaker, ArcelorMittal, said on Thursday its half-year net profit jumped on exceptional items but US tariffs began to eat into its margin. Net profit for the period from January through June rose 39 percent from the same period in 2024 to hit $2.6 billion, thanks to a $1.7 billion exceptional gain
Steel giant ArcelorMittal posted a net profit of $2.6 billion in the first half of the year, up 39 percent from the same period last year. However, operating profit fell, mainly due to US tariffs on steel imports.
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Total News Sources36
Leaning Left6Leaning Right5Center8Last UpdatedBias Distribution42% Center
Bias Distribution
- 42% of the sources are Center
42% Center
L 32%
C 42%
R 26%
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