Incoming admin said they'd do the same unfortunately [1] [2]. Bad policy, is what it is. Likely leads to some sort of M&A with Cleveland-Cliffs [3]. Steel demand is likely to remain subdued for the foreseeable future [4] due to China's deflationary macro and US Fed target rate remaining elevated, so policy is really just managing stagnation or decline at this time (and the ~14k jobs at risk, ~11k of which are United Steel Workers union members).

[1] https://apnews.com/article/us-steel-nippon-trump-biden-steel...

[2] https://archive.today/xaKEP

[3] https://www.clevelandcliffs.com/news/news-releases/detail/63...

[4] https://www.fitchratings.com/research/corporate-finance/glob...