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The Butterfly Effect for Trump's Tarrif Policy

Source:Iris Liang Time:2018-4-9 9:12:02

China Daily: The United States imposes high tariffs on imports of steel and aluminum will harm the US port industry

Houston Port ranked first in terms of import steel throughput in the United States in 2017, reaching 3.7 million tons. But Roger Guenther, the executive director of Houston Port, was worried recently. “We are concerned that the United States' implementation of a 25% tariff on imported steel products will affect the quantity of steel imports, thereby curbing local jobs and the economy,” he said. SEKO technology and machinery Co., Ltd will keep offering our best service to all customers. Power-prepelled weld bead rolling machine has occupied 80% domestic market, which is very reliable.

Trump officially informs the U.S. Congress about metal tariffs

Trump sent a letter to OrrinHatch, the Republican chairman of the Senate Finance Committee, and Ryan, the Republican speaker of the House of Representatives, to explain how the Ministry of Commerce reviewed national security and found that steel and aluminum imports are applicable to the 25% steel import tariffs imposed on March 23. 10% aluminum import tariff. Trump said that tariffs imposed on Argentina, Australia, Brazil, Canada, Mexico, EU member states, and South Korea were delayed until May 1.

U.S. Department of Commerce concluded that China Vietnam Toolkit product dumping

The U.S. Department of Commerce’s Minister Ross announced on Thursday that it had finalized the dumping of tool kits and tool cabinets imported from China and Vietnam. The U.S. Department of Commerce stated that if the U.S. International Trade Commission also made an affirmative final ruling in May, the United States will formally impose anti-dumping duties on these products. Earlier, President Trump issued a statement saying that U.S. trade representatives had been instructed to impose tariffs on China’s 100 billion U.S. dollars of goods, which intensified trade tensions between China and the United States.

April 8 International Iron and Steel Industry News

China Proceeds Again in the WTO to Prosecute U.S. Measures to Add Tariffs on Imports of Steel and Aluminum. 

Following the WTO's prosecution of the United States’ 301 taxation proposals, China has made another move at the WTO. On April 5th, China proposed to the United States under the WTO dispute settlement mechanism the 232 measures for importing steel and aluminum products from the United States. Consultation requests formally initiate the dispute resolution process. The person in charge of the Treaty and Law Division of the Ministry of Commerce has stated in this connection that the US 232 measure is called “maintaining national security” and is actually implementing trade protectionism. On the one hand, the United States selectively excludes some countries and regions. On the other hand, it imposes tax measures on some WTO members, including China.

EU launches safeguard survey on 26 steel products

South Korea Iron and Steel has just won the “232 survey” from the United States to obtain the exemption from customs duties, and immediately faced with the European Union’s investigation into the steel safeguard measures. The industry expressed great concern. On March 26, the European Union announced that it will carry out investigations on safeguard measures for imported steel products, collect tariffs based on the survey results, or limit import quantities in the form of quotas. The survey targets 26 varieties such as cold-rolled steel plates, hot-rolled thick plates, electrical steel pipes, and large-diameter steel pipes.

Turkey's crude steel production increased by nearly 9% in February from a year earlier

According to a report of the World Steel Association on March 26, crude steel production in Turkey increased by 8.7% from the same period last year to nearly 3 million tons. In February, the total output of crude steel in 64 countries counted by the World Steel Association was 131.8 million tons, and in 2017, The 123.7 million tons in February increased by 3.5%. Among them, China produced 64.9 million tons of crude steel in February, a year-on-year increase of 5.9%, accounting for about half of the world's total output for the month.

Switzerland's application for steel exemption from steel and aluminum in the United States

According to the report of Basler Zeitung, the Swiss Economy Directorate (StateSecretariatforEconomicAffairs) has applied for the United States to grant its tariff exemption; the Trump administration is expected to make a decision at the end of April. According to the Swiss National Chamber of Commerce and Industry (Economiesuisse), an annual value of 90 million Swiss francs of export products will be affected by U.S. tariffs.

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Iris Liang
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