President Xi Jinping announced today that China will significantly open access to its economy including lowering import tariffs on automobiles and recognizing and enforcing intellectual property rights. In a speech at the Boao Forum for Asia Annual Conference, Xi promoted his country as a leader in the global free market as the Trump administration threatened […]
Commerce announced an affirmative final decision in the antidumping investigation concerning imports of cold-drawn mechanical tubing from China, Germany, India, Italy, Korea, and Switzerland. In addition, Commerce found that “critical circumstances” exist with respect to Dalmine S.p.A. and Metalfer S.p.A., but not with respect to all other producers/exporters in Italy; Sang Shin Ind. Co., Ltd., […]
The battle is being joined this week over the Trump administration’s tariffs on steel and aluminum and the World Trade Organization is the battleground. Washington trade attorney Lewis Leibowitz offers the following assessment of the current trade situation: China requested consultations with the United States—the initial step in WTO dispute settlement cases—over the steel and […]
The antidumping investigation by Commerce into the imports of tool chests and cabinets from China and Vietnam moved closer to a conclusion on Wednesday. Commerce announced its affirmative final determination, calculating a dumping rate of 97.11 percent for the mandatory respondent Tongrun Single Entity. All other producers/exporters in China that are eligible for a separate […]
Major developments this week in the escalating trade war between China and the United States could have serious consequences for global commerce. Washington trade attorney Lewis Leibowitz offers the following assessment of the trade situation: The Office of the U.S. Trade Representative released a list of about 1,400 tariff line items. Tariffs of 25 percent […]
A de facto round eight of NAFTA negotiations is about to begin in Washington, D.C., despite the U.S. Trade Representative deciding not to host an official eighth round. Instead, a “ministerial meeting” between Trade Representative Robert Lighthizer, Canadian Foreign Affairs Minister Chrystia Freeland and Mexican Economy Secretary Ildefonso Guajardo will be held along with discussions […]
Tensions between Washington and Beijing over China’s policies toward U.S. and foreign investment and the multibillion-dollar trade surplus with the United States continued to escalate this week. In retaliation for the Trump administration’s tariffs of 25 percent on steel and 10 percent on aluminum, which took effect March 23, China has imposed tariffs on up […]
Brazil is one of seven countries granted a temporary retrieve from Section 232 tariffs on steel and aluminum. If the 25 percent tariff is imposed on the Brazilian steel industry, it would impact 13 percent of the nation’s steel exports and lead to losses estimated at $350 million annually, according to a new study by […]
With so many trade issues under debate in Washington, it’s difficult to keep up. Trade attorney Lewis Leibowitz provided Steel Market Update with the following summation: • KORUS Negotiations: As part of the renegotiation of the Korea-U.S. free trade agreement (KORUS), the Trump administration has granted South Korea a permanent exemption from the steel tariffs […]
Recognizing the current sensitivity of trade relations with the Trump administration, Canada is taking extra precautions to ensure there is no circumvention of U.S. tariffs through the Canadian borders. The Canada Border Services Agency will be empowered to identify businesses that are attempting to dodge duties by shipping cheap steel to Canada. Agents will have […]
The U.S. and South Korea have reached an agreement on amendments to the KORUS agreement. In return for exemption from Section 232 tariffs, Korea will reduce its steel exports to the U.S. by 30 percent to 2.68 million tons annually. In addition, Korea agreed to increase automotive imports from the U.S. to 50,000 vehicles per […]
U.S. Trade Representative Robert Lighthizer wants to wind the NAFTA negotiations up by May 1, the day the temporary tariff exclusions expire for Canada and Mexico. Sources told Inside U.S. Trade that Lighthizer informed his NAFTA counterparts he wants to announce an agreement by March 31 and have the legal review completed by the beginning […]
President Trump’s Section 232 steel tariffs went into effect at 12:01 a.m. ET on Friday—but hardly as expected. At the last minute, the president suspended the tariffs for a large group of ally nations until May 1 while negotiations continue. The suspension could head off retaliatory trade measures threatened by various foreign countries, at least […]
Just before midnight on Thursday, March 22, the White House released a proclamation adjusting imports of steel (Section 232) by providing exclusions to Canada, Mexico, Australia, Argentina, South Korea, Brazil and member countries of the European Union. The EU countries are: Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Hungary, Ireland, […]
More than 40 members of the World Trade Organization took the floor at a meeting of the Council on Trade in Goods on Friday to voice their concerns over U.S. tariffs on steel and aluminum. Members warned that the measures would have repercussions “not only on traders’ commercial interests but also on the predictability and […]
With the announcement that seven countries will be exempt from the steel tariffs that take effect tomorrow, less than one-third of U.S. steel imports will be subject to the tariffs, by some estimates. U.S. Trade Representative Robert Lighthizer said during a Senate Finance Committee hearing today that the President has decided “to pause the imposition […]
The Section 232 tariffs go into effect tomorrow and already they are being watered down with country exclusions. U.S. Trade Representative Robert Lighthizer is now adding all of Europe, South Korea (one of the biggest importers of Chinese steel), Brazil, Argentina and Australia to the list of countries whose steel exports to the U.S. will […]
President Trump signed a memorandum Thursday directing the U.S. Trade Representative to recommend tariffs on $50 billion to $60 billion of Chinese goods. In addition to the tariffs, the United States also plans to restrict Chinese invesment in the U.S. and to take action against China at the World Trade Organization, according to press reports. […]
Washington attorney Lewis Leibowitz offers the following trade update: Several countries have arrived in Washington seeking exemption from the Section 232 steel and aluminum tariffs. The Trump administration surprised the market with its announcement Thursday that five other nations will join Canada and Mexico on the list of those exempt from the tariffs: the European […]
Trade attorney Lewis Leibowitz has been sharing information with Steel Market Update about the exclusion request process for both steel and aluminum. We will endeavor to provide as much information as possible to our readers as you determine whether to file for exclusions on your products or move to non-affected steel suppliers. Below is a […]
The following article was written by trade attorney Lewis Leibowitz. You can find his contact information at the end of the article: John Packard asked me to respond to questions from SMU readers about the new procedures for requesting steel product exclusions from the tariffs scheduled to go into effect at midnight Friday morning. The […]
The final complaint in the U.S. Steel Section 337 investigation against steel manufacturers in China was dismissed by the International Trade Commission on Monday. In a 3-1 decision, the USITC said U.S. Steel failed to show specific antitrust injury. The antitrust claim was the last of three complaints that U.S. Steel brought against its Chinese […]
Cryptocurrency policy took a backseat to global trade at the start of the 2018 G20 Summit. Officials gathered in Buenos Aires warned that U.S. protectionist policies may threaten global economic growth. “The first risk is the risk of inward looking policies and protectionism,” said European Commissioner for Economic and Financial Affairs Pierre Moscovici on Monday. […]
Details on how to request an exclusion from the Trump administration tariffs on steel and aluminum will be published in the Federal Register tomorrow. We received a copy of the exclusion procedure and some comments from trade attorney Lewis E. Leibowitz. President Trump, using his authority under Section 232 of the Trade Expansion Act of […]
China and German have agreed to work together to find solutions for steel overcapacity within the framework of the G20 group of nations. In a phone call on Saturday, German Chancellor Angela Merkel and Chinese President Xi Jingping discussed the importance of multilateral cooperation in global trade and the need for the two countries to […]
The European steel association EUROFER urged EU policymakers, member states and industry stakeholders to show solidarity against the U.S. tariffs on steel and aluminum. U.S. tariffs are the wrong approach to dealing with the global overcapacity problem in steel, said EUROFER President Geert Van Poelvoorde at a press conference earlier this week. “We are facing […]
Anticipating the U.S. Commerce Department will soon begin considering applications for exemptions from the Trump administration tariffs on steel and aluminum, South Korea’s Dongkuk Steel has reportedly suspended its April exports to the United States. Reuters quoted a company spokesman who said the steelmaker has put its exports to the U.S. temporarily on hold while […]
Companies that import steel products can apply for relief from President Trump’s tariff immediately, even before the Commerce Department issues formal procedures, recommends Washington trade attorney Lewis Leibowitz. “I see no reason to wait for detailed procedures to come out from Commerce. A letter to the Secretary should suffice to get started,” he said. The […]
Much has been made of the damage the Section 232 actions may have on the economy and individual firms, but little has been said about how to mitigate costs and manage risks from the tariffs. Donald Bly, Associate Partner at Applied Value, LLC, a New York management consulting and investment group, offers some strategies on […]
It is still early, but Steel Market Update is already collecting comments and opinions on how the Section 232 tariffs are going to affect existing business in the United States. We heard everything from allocation stories to a few companies that reported higher prices but no customers for that higher priced steel. “This is a […]