US steel tariffs still cost ArcelorMittal $600 million a year, CFO says

July 30 (Reuters) - U.S. tariffs on imported steel are still costing ArcelorMittal about $150 million ?per quarter, as they impact the ‌steelmaker's Canadian exports, its finance chief said on Thursday.

"We continue to incur the target cost of ?about $600 million (a year) in Canada," Genuino ?Christino said in an interview with Reuters.

Canada's response ?in the form of tariffs have ?not been enough to offset the impact ?on the Luxembourg-based group's operations in the country, though they are helping the sector there, Christino said.

"What ?is also good is that we have ?not lost market share, we continue to ship to ‌the ?U.S. automotive industry (as) ArcelorMittal is seen as a market leader with the best technology and the best products," he added.

In July ?2025, ArcelorMittal estimated ?the tariff ?hit on its core earnings at $150 million a quarter, though ?it said also back then that ?its ?high value-added material was hard to replace.

Earlier on Thursday, the company posted second-quarter core earnings of $2.06 ?billion, ?which beat market expectations ?according to an LSEG poll of analysts.