Speaking during a press conference to discuss the new United States-Mexico-Canada agreement, Trump said the tariffs will stay “until such time as we can do something that would be different, like quotas, perhaps, so that our industry is protected.”

Steel industry representatives on Monday said they applaud the new agreement.

"We are pleased with the changes in the rules of origin and automotive content requirements. We believe this is a key part of the modernization of the agreement and these new provisions will help promote the production and use of domestic steel," said Philip K. Bell, president of the Steel Manufacturers Association. 

Nucor Corp. chairman and chief executive John Ferriola echoed those comments.

"We support increasing the rules of origin requirements for various products that will result in the use of more North American materials, including steel,” he said.