Follow direct updates Trump’s prices and executive orders.
President Trump on Monday imposed on all US imports in Steel and Aluminum on Monday, which will primarily target US allies, but in his heart he invades China: China.
In January, the top five suppliers in the US market were Canada, followed by Brazil, Mexico, South Korea and Germany. Canada has also guided aluminum exports to the United States, while the United Arab Emirates, Russia and China are far behind.
China does not export too much steel or aluminum directly to the United States. The successor of the Department of Presidents and Trade Department has already imposed many taxes on steel from China. Recent revenue on Chinese aluminum has also increased. Just last September, President Joseph R. Biden Jr. increased current prices on many Chinese steel and aluminum products by 25 %.
But China dominates the global steel and aluminum industry. Its vast, modern mills make each year like both metals, or more, as the rest of the world is found. Most of this is used within the borders of China, to build everything from high regions and ships to washing machines and cars.
Nevertheless, China’s steel and aluminum exports are increasing recently as its economy is struggling, which is considered domestic demand. Many of these low -cost exports went to US allies like Canada and Mexico, which in turn exports important shares of their more expensive production to the United States. Other Chinese metal exports have gone to developing countries like Vietnam, which now buy a large amount of semi -processed steel from China, eliminates it, and then re -exports buyers around the world as Vietnamese Steel. –
China’s growing exports have upset producers and labor unions in the United States.
“China is changing global markets,” said Michael Weissel, a longtime commercial adviser to the United States steel workers, and is seriously injuring US producers and workers. “
The Chinese Foreign Ministry had something specifically to say about the prices of steel and aluminum in a daily briefing on Monday. “Let me emphasize that protectionism does not go anywhere. Ministry spokesman Go Jiacon said trade and tariff wars have no winner.
A week after President Trump imposed a 10 percent tariff on all imports from China, a week of planning revenue has come. Last week, China announced that it would implement retaliation revenue implemented on Monday on liquid natural gas, coal, farm machinery and other products from the United States.
China’s steel gluten was born from an unusual height in the construction of steel mill that began in the early 1990s and continued for about 15 years, followed Said, who then became the President of the Thesis Crip Steel US operations. Germany. Now he is a adviser who advises investment firms and companies who buy many steel.
No, since any country has ordered the world’s steel industry on the scale of China in the 1940s today. At that time, the United States made half of the world’s steel, but after that, its share has been less than 5 %.
For years, China’s construction industry used a lot of steel. One building rapidly created enough houses for 1.4 billion people in the country and enough empty apartments for 300 million people.
Over Hong of the empty apartments has now pushed the stalls forward in the crash and construction of the housing market. Anxious to avoid being shut down, China’s mills have responded with the increase in steel exports to countries around the world. He has accepted low and lower prices of his steel in the past several years, which has mobilized global erosion in prices.
The declining prices have damaged the US steel industry, which is a politically powerful constituency in key electoral areas. The United States of the United States is in Pittsburg, the headquarters of the United States, which is actually the center of the industry’s long -standing base in Pennsylvania, which has proved to be the center of the recent presidential election. A sign of the US Steel, US Steel, is also based in Pennsylvania.
Steel trade response against China is not limited to the United States only. Brazil, Canada, Indonesia and Turkey have raised all prices from China over the past year to steel.
During his first term, President Trump imposed 25 % additional taxes on steel and 10 % of the tax on aluminum imports from all over the world. He then exempted major steel producing countries like South Korea, Australia and Brazil from their imposed quota, in return for how many tons of steel they send to the United States every year. But he left the prices for China.
Trade reservations have helped the US steel industry, which has increased its capacity almost FIFTH -fifth in the last six years, with modern steel mills. Old, less efficient mills have started to run less than full production.
According to the Washington -based industry group American Iron and Steel Institute, by the last week of January, steel mills in the United States were working at 74.4 % capacity.
Sai Zhou Research in partnerships.
