AME’s forecast for 2024 crude steel production in the US is 85.2Mt, an increase of 7.3% from the previous year. The US is embracing the new green steel economy, ramping up renewable energy and electric vehicles.
AME expects an average annual growth rate of 3.1% in the US, reaching 99.7Mt in 2030.      The goal of self-reliance within the US manufacturing industries has been prominent since early 2018, when the government imposed a 25% tariff on steel products. The government’s massive US$1.2tn Infrastructure Investment and Jobs Act was signed into law on 15th November 2021. The rebuilding of the nation’s infrastructure is expected to create 1.5m jobs a year for the next 10 years. Likewise, the US$437bn Inflation Reduction Act was signed into law on 16th August 2022. The Act was formally known as the Build Back Better Act, which was passed in the House on 19th November 2021, with an initial investment of US$1.75tn.