Steel imports have been on an almost constant downtrend since President Trump imposed a 25% tariff on steel imports. However, for perhaps the first time, the month of July saw a sharp uptick.
China is imposing anti-dumping duties for certain stainless steel products from Japan, Indonesia, the European Union (EU), and South Korea. They plan to apply tariffs between 18.1 and 103.1 percent to stainless steel hot-rolled plates and billets.
President Trump has announced that he will lift steel and aluminum tariffs on Canada and Mexico. This decision was reached in an effort to pass the United States Mexico Canada Agreement, an update to the North American Free Trade Agreement.
In mid-March, Canada’s Ambassador to the United States stated that he believes the United States steel tariffs may end soon. His speculation generated considerable media attention.
Overall global steel output is headed in a positive direction, despite recent controversy surrounding steel tariffs imposed by the Trump Administration. Over the last year, raw-steel production has steadily increased. This is after nearly two years of below-average demand. The World Steel Association predicts that steel demand for manufacturing and construction purposes will continue to...
President Donald Trump is planning to institute broad tariffs on steel and aluminum imports. These import taxes could result in lower profits for all companies that use these metals in their manufacturing processes, leading to higher prices for consumers, or a combination thereof. While the President’s plan calls for a 25 percent tariff on steel...
President Donald Trump’s tariffs continue to be a topic of interest, especially for businesses that rely on steel and aluminum imports. These industries saw declines for decades, and Trump’s idea is to place a 25 percent tariff on imported steel and 10 percent tariff on imported aluminum to level the playing field for domestic producers....