The Trump administration’s 232 tariffs on steel and aluminum imports to the U.S. have triggered retaliatory measures from trading partners, Seeking Alpha reports.

Domestic metal producers welcomed the move, as a 25% tariff imposed on steel and aluminum products imported from all countries ended exemptions President Donald Trump had granted to countries like Canada and Mexico under his Section 232 proclamation in 2018.

While tariffs were often cited by the Trump administration as a tool to protect and boost domestic manufacturing, analysts have different views.

RBC Capital Markets said that the 2018 steel and aluminum tariffs only increased U.S. steel and aluminum production by 7% and 4%, respectively.

While the U.S. steel and aluminum imports by weight fell by 15% and 13% since 2018, imports of those metals remain at 13% and 47% of domestic consumption, respectively, RBC analyst Shaz Merwat noted.

However, total U.S. consumption of both metals has also dropped about 10% since 2018, “explain(ing) why import dependence hasn’t dropped as much as the raw numbers suggest.”

“The U.S. steel industry is impeded by a far bigger challenge as China floods global steel markets with excess production capacity, ultimately hindering U.S. producers’ ability to boost domestic output,” Merwat stated.

The Economist Intelligence in London offered similar views.

“In the longer term, we do not expect higher effective US tariff rates on steel on their own to boost domestic production or encourage a renaissance in US manufacturing,” the EIU wrote, noting that even as seven years have elapsed since the first steel tariffs went into effect, total steel production remained about 8% lower last year.

The EIU noted concerns over manufacturers’ ability to expand local production capacity, citing a demand-supply mismatch between the type of steel products required from imports and what domestic production lines can provide.

“The profitability of highly capital-intensive investments in steelmaking capacity is determined by much more than tariff rates, which can be short-lived depending on the political environment,” EIU wrote.