Trade Cases
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Trump Said to Favor 24% Global Tariffs
Written by Sandy Williams
February 25, 2018
President Trump is favoring a 24 percent global tariff on steel imports, according to sources reported by multiple media outlets. Trump’s pick for Section 232 aluminum trade restrictions is a 10 percent tariff on all aluminum imports.
The rumors are contrary to analysts’ expectations of a more targeted tariff on imports. Broad-based tariffs are likely to be met with retaliation by global trading partners.
“As with every decision he makes, the security of the American people and the American economy will be the president’s primary concerns while he considers his potential options,” White House spokesman Raj Shah said in a statement. “President Trump is committed to achieving fair and reciprocal trade relationships that protect the American worker and grow our economy.”
Last week, the Pentagon issued a memo warning against broad measures that would impact key allies and favored a limited tariff on known abusers of trade. Economic adviser Gary Cohn and national security adviser H.R. McMaster are said to be against any action.
Although steel imports from China to the U.S. have dropped dramatically, the nation continues to be at the center of trade acrimony regarding steel overcapacity and alleged transshipment abuse. U.S. Trade Representative Robert Lighthizer is expected to meet with senior Chinese economic adviser Liu He next week in Washington to discuss trade disputes.
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Sandy Williams
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Leibowitz: The consequences of a new barrage of trade cases on coated steel
Domestic steel producers and the United Steelworkers (USW) union filed a barrage of trade cases last week. This is hardly news. Ever since the Commerce Department ruled that Vietnam is still treated as a nonmarket economy (NME) for antidumping purposes, many in the business expected new cases on the product that Vietnam excels at—“corrosion-resistant steel.” Nor is it a surprise that these cases roped in nine countries in addition to Vietnam: Australia, Brazil, Canada, Mexico, the Netherlands, South Africa, Taiwan, Turkey, and the United Arab Emirates. All these countries rank in the top ten exporters of corrosion-resistant steel to the United States. These petitions are a broadside against coated flat-rolled steel imports.
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Coated trade case alleges hefty dumping margins
Domestic mills have alleged substantial dumping margins in the trade case targeting imports of corrosion-resistant steel.
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US mills file sprawling trade case against coated imports from 10 nations
US mills have filed or soon will file a sprawling trade petition against imports of coated flat-rolled steel from 10 countries. The petition seeks anti-dumping margins against Canada, Mexico, Brazil, the Netherlands, Turkey, the United Arab Emirates, Vietnam, Taiwan, Australia, and South Africa. It also seeks countervailing duty margins against Canada, Mexico, Brazil, and Vietnam. That’s according documents dated Sept. 5 and addressed to Commerce Secretary Gina Raimondo and International Trade Commission (ITC) Secretary Lisa Barton.
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Steel Summit 2024: Trade issues abound ahead of election
Trade is always front and center in an election year. And 2024 is no different. There is no shortage of issues, with questions like the sale of U.S. Steel to Japan’s Nippon Steel, potential cracks in the USMCA, and Chinese overcapacity dominating the headlines. But how do you distinguish between issues that might just last until November, and what are the crucial questions that could affect your business for years to come?
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US senators urge reduction to S. Korean OCTG quota
https://www.brown.senate.gov/newsroom/press/release/sherrod-brown-casey-fetterman-biden-administration-level-playing-field-american-octg-industry