%{{tag.tag}} {{articledata.title}} {{moment(articledata.cdate)}} @{{articledata.company.replace(" ","")}} comment U.S. steel producers have reported record shipments for this year's third quarter as imports decline after President Donald Trump doubled tariffs on steel products. American steel producers say they have seen an immediate benefit from the new U.S. tariffs placed on imports, with increases in multi-year contracts, public-private partnerships, and mergers across the industry. The U.S. steel industry has applauded President Trump's actions to reduce reliance on foreign imports of steel products and boost domestic manufacturing in America. Steelmaker Nucor (NYSE: $NUE ) reported a third-quarter increase of 6,428 net tons of steel shipments, up 12.4% year-over-year. Shipments also increased for Steel Dynamics (NASDAQ: $STLD ), which shipped a record 3.6 million metric tons in the third quarter, supported by U.S. tariffs. Most steel producers in the U.S. now report stable steel demand and pricing, and express optimism that American trade barriers on steel imports are likely to remain in place. Steel producers say they are also anticipating a resurgence in the U.S. automotive sector within the next several years supported by domestic steel manufacturing. U.S. steel producers are also seeing a pick-up in mergers and acquisitions after Japan's Nippon Steel (OTC: $NISTF ) received approval from the Trump administration to acquire U.S. Steel. Nucor's stock has risen 33% this year to trade at $152.35 U.S. per share.