Canada and Mexico are the leading exporters of steel to the US, but most of their products likely can be readily produced in the US, Bloomberg Intelligence analysis shows.

One Canadian steel company is seeing business slow down so they are cutting hours. Conquest steel says products are getting stuck at the border.

Trump has pushed pause on proposed tariffs on goods from Canada and Mexico, but that could end in early March.

If they take effect, tariffs are expected to raise costs for insurers to repair or replace cars, meaning higher premiums for auto insurance.

President Donald Trump is eyeing a “25% or higher” tariff across all semiconductor chips the United States imports, with rates likely to “go very substantially higher over a course of a year,” he told reporters on Tuesday.

President Donald Trump suggested imposing tariffs on auto imports, threatening to drive up the cost of cars further amid plans for tariffs on steel, aluminum, Canada, and Mexico. But economists and the insurance industry say that this will raise auto insurance costs.