Indiana Steel Tariff Costs Hit Raw Inputs and Finished Sub-Assemblies at Once

S&P Global's one-year Section 232 retrospective puts the Indiana number in clear terms: the Platts TSI HRC benchmark for Indiana sat at $1,201.50/mt as of May 26th, up 58% since January 2025. The compounding problem is the August 2025 derivative expansion. Commerce added 407 categories, stamped components, chassis assemblies, axles, and truck trailers, at the full 50% rate. If you're producing finished sub-assemblies in any of those categories, you're absorbing the tariff on raw HRC input and on your finished product at the same time. Map every assembly against those 407 derivative categories and put a dollar figure on total exposure before your next budget review.