Steel Tariffs Not Hurting U.S. Manufacturing, Nucor Chief Says -- WSJ

Dow Jones01-28

By Bob Tita

Higher tariffs have been effective at driving imported steel out of the U.S. without damaging steel-consuming industries, Nucor Chief Executive Leon Topalian said.

Imports accounted for around 14% of the U.S. steel market in November, down from about 25% a year earlier, according to government and industry data.

"We've seen import levels I've never seen in my 30 years at Nucor," Topalian told analysts during a conference call. "I think 2026 is shaping up to be a very, very solid year for Nucor."

Nucor expects its steel shipments to increase by 5% this year over 2025, citing demand in data center construction, power generation, and other infrastructure. The growth areas are offsetting weaker demand from residential construction and the machinery makers.

Topalian said Tokyo-based Nippon Steel's $14.1-billion purchase of the Pittsburgh-based U.S. Steel last year is proof that foreign steel companies view the U.S. as a strong market.

"You're going to see continued investments from foreign companies that are looking to come to the U.S. because of that strength," he said.

This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).

(END) Dow Jones Newswires

January 27, 2026 13:15 ET (18:15 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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