America’s top 15 suppliers of iron and steel in 2018 earned $61.3 billion in sales to the US during 2018, or 82.4% of the overall total equal to $74.4 billion. Over half (54.6%) of the overall value were sourced from the top five providers listed below.

1. China: US$14.9 billion (20% of US iron/steel imports)
2. Canada: $10.3 billion (13.9%)
3. Mexico: $7.5 billion (10.1%)
4. Taiwan: $4.1 billion (5.5%)
5. South Korea: $3.8 billion (5.1%)
6. Brazil: $3.5 billion (4.7%)
7. Germany: $3.3 billion (4.4%)
8. Russia: $3.2 billion (4.3%)
9. Japan: $3 billion (4.1%)
10. Italy: $1.7 billion (2.3%)
11. India: $1.7 billion (2.2%)
12. Vietnam: $1.3 billion (1.8%)
13. Turkey: $1 billion (1.4%)
14. Thailand: $994.1 million (1.34%)
15. United Kingdom: $973.8 million (1.31%)

Fastest-growing from 2014 to 2018 among these top suppliers were Vietnam (up 190.4%), Thailand (up 108.6%), Mexico (up 12.3%) then China (up 11.7%).

Leading the decliners over the 5-year period were the United Kingdom (down -44%), Turkey (down -38.4%), South Korea (down -35.2%), Japan (down -27%) then India (down -22.6%).

America also produces and sells its own iron and steel on international markets. In 2018, the United States shipped $35.7 billion worth of iron and steel to its trade partners. That dollar amount represents $16.4 billion in iron and steel as metal plus $19.3 billion worth of actual goods made from iron or steel. Still, America’s revenues from its overall iron and steel exports are valued at under one-half (48%) of the $74.4 billion that the US spent on imports for those same commodities.

Including both as metals and goods made from iron or steel, the overall US trade deficit specific to iron and steel was -$38.7 billion in 2018. That amount of red ink reflects a 12.2% expansion from the -$34.5 billion deficit during 2014.

Below you will find the 15 countries that caused America’s highest negative subtotals from buying and selling iron and steel in all forms on global markets in 2018.

1. China: -$13.6 billion (product deficit up 18.9% from 2014)
2. Taiwan: -$3.2 billion (up 20.2%)
3. Russia: -$3.1 billion (down -13.1%)
4. Brazil: -$3.1 billion (down -8.5%)
5. South Korea: -$3.1 billion (down -33.6%)
6. Germany: -$2.7 billion (down -3%)
7. Japan: -$2.4 billion (down -33%)
8. Italy: -$1.4 billion (down -8.5%)
9. India: -$987.8 million (down -39.6%)
10. Ukraine: -$920.6 million (up 117.1%)
11. Vietnam: -$919.8 million (up 223.5%)
12. Austria: -$823.5 million (up 11.7%)
13. South Africa: -$813.9 million (down -22.4%)
14. Thailand: -$709.5 million (up 239.8%)
15. Sweden: -$704.2 million (down -15.9%)

American leading trade deficits for iron and steel widened at the fastest pace from 2014 to 2018 with Thailand (up 239.8%), Vietnam (up 223.5%), Ukraine (up 117.1%) then Taiwan (up 20.2%).

Please note that the United States posted surpluses in its overall iron and steel trade with both of its North American trade partners in 2018. America earned black ink in the amount of $2.6 billion trading iron and steel-related commodities with Mexico while $592.9 million was at Canada’s expense.

Focusing on iron and steel metals reported as materials under HTS code 72, America imported $31.1 billion worth of iron and steel in 2018. That dollar amount reflects a -13.6% decline from 2014 and a 7.9% uptick from 2017 to 2018.

More tellingly, America incurred a -$14.7 billion deficit from importing and exporting iron and steel materials in 2018. That product deficit shrank by -16% from -$12.7 billion in 2014 but expanded 15.3% since 2017.

Below are the top 15 suppliers of iron and steel materials to the US for 2018. Collectively, they account for over three-quarters (78.3%) of total US imports for these metals.

1. Canada: US$5.9 billion (18.9% of US iron/steel imported as metal)
2. Brazil: $3.3 billion (10.6%)
3. Russia: $2.9 billion (9.3%)
4. Mexico: $2.3 billion (7.4%)
5. South Korea: $1.6 billion (5.2%)
6. Germany: $1.3 billion (4.2%)
7. Japan: $1.2 billion (3.9%)
8. Ukraine: $837.2 million (2.7%)
9. Taiwan: $833.5 million (2.7%)
10. South Africa: $780.6 million (2.5%)
11. Vietnam: $773.2 million (2.5%)
12. China: $698.2 million (2.2%)
13. Netherlands: $660.1 million (2.1%)
14. Italy: $656.9 million (2.1%)
15. Sweden: $609.8 million (2%)

Four countries among these top 15 suppliers expanded their sales of iron or steel as metals materials to the US from 2014 to 2018 namely Vietnam (up 1,171%), Ukraine (up 145.3%), Germany (up 7.5%) and Canada (up 0.4%).

Leading the decliners over the 5-year period were China (down -74.6%), Japan (down -34.9%), Taiwan (down -29.8%), South Korea (down -27.7%), South Africa (down -24.8%) then the Netherlands (down -22.1%).

As for actual products reported under HTS code 73, America imported $43.3 billion worth of goods made from iron or steel in 2018. That dollar amount reflects a 9.1% increase since 2014 and a 10.6% uptick from 2017 to 2018.

From a trade balance perspective, America incurred a -$24.1 billion deficit from importing and exporting goods made from iron and steel during 2018. That product deficit swelled by 40.9% from -$17.1 billion in red ink during 2014 and rose by 16.1% from 2017 to 2018.

Below are America’s top 15 suppliers of products made from iron and steel for 2018. Collectively, these 15 countries generated 89.5% of all iron or steel items that the US imported.

1. China: US$14.2 billion (32.8% of US imported items made from iron/steel)
2. Mexico: $5.2 billion (12.1%)
3. Canada: $4.5 billion (10.3%)
4. Taiwan: $3.2 billion (7.5%)
5. South Korea: $2.1 billion (4.9%)
6. Germany: $2 billion (4.6%)
7. Japan: $1.8 billion (4.2%)
8. India: $1.4 billion (3.1%)
9. Italy: $1.1 billion (2.5%)
10. Thailand: $869.7 million (2%)
11. Vietnam: $540.9 million (1.2%)
12. Spain: $487.1 million (1.12%)
13. Austria: $472.9 million (1.1%)
14. United Kingdom: $464.1 million (1.09%)
15. Turkey: $419.3 million (1%)

Since 2014, five among these top suppliers grew their sales to the US by double-digits: Thailand (up 91.4%), Vietnam (up 38.1%), China (up 34.1%), Taiwan (up 23.9%) then Mexico (up 19.8%).

Leading the decliners were South Korea (down -40%), Japan (down -20.6%) then Turkey (down -20.3%).