Апреля 24, 2018


US Section 232 options justified, would not hurt downstream: Commerce

17 Февраля 2018, 12:48 | Gordon Grant

White House Holds Meeting to Discuss Aluminum and Steel Trade Actions

Trump Administration Recommends Stiff Penalties on Steel and Aluminum Imports

In opening the discussions, President Trump stated that while he wants to keep prices down, he also wishes to "make sure that we have a steel industry and aluminum industry, and we do need that for national defense".

It's far too early to know how the Trump administration's proposed tariffs would shake out in the long run.

Trump met with a bipartisan group of USA senators and representatives at the White House last week, signaling he would take at least some action to restrict imports of the two metals.

The recommendations pushed up Century Aluminum (CENX) almost 10% on the stock market today, while Alcoa rose just 0.7% after initially soaring. More than two dozen USA steel and steel-related companies and associations wrote Trump a letter on February 2 urging "strong action" to support domestic steel.

Trump said the US steel and aluminum industries "are being decimated by dumping and from many countries". "Other countries will retaliate, killing the very exports and American jobs this administration seeks to promote".

Senator Pat Toomey cautioned the president to proceed cautiously under Section 232 for national security reasons, arguing that US defense needs account for only about 3 percent of domestic steel consumption.

Читайте также: Google Introduces AMP for Gmail, Bringing Web-like Actionable Content to Email

Ross criticized China, the world's largest producer of steel, for overproduction. The president could also consider the countries' willingness to work with the United States to address global excess capacity and other challenges facing the USA aluminum and steel industries. Some companies in the steel industry, as well as unions such as United Steelworkers, have been pushing the president to come down hard on imports.

At today's reduced military spending, military consumption of aluminum is a small percentage of total consumption and therefore is insufficient by itself to preserve the viability of the smelters.

At least a 53% tariff on steel imports from Brazil, China, Costa Rica, Egypt, India, Malaysia, Korea, Russia, South Africa, Thailand, Turkey, Vietnam, with a quota by product on steel imports from all other countries equal to 100% of their 2017 exports to the U.S.

The department notes that employment in the aluminum industry fell by 58 percent between 2013 and 2016, while employment in the steel industry dropped 35 percent in the last 20 years.

Commerce issued a statement and Secretary Wilbur Ross held a phone briefing with the media to explain the findings and recommendations of the report, which was handed to President Donald Trump January 19.

A quota on all imports from all countries equal to a maximum of 86.7% of their 2017 exports to the United States.

При любом использовании материалов сайта и дочерних проектов, гиперссылка на обязательна.
«» 2007 - 2018 Copyright.
Автоматизированное извлечение информации сайта запрещено.

Код для вставки в блог



Other News

Trending Now

Kids under two at greater risk of flu related death
The team said some have suggested the possibility of slower development of age-related immune response to influenza B. About half of the children hospitalized for the flu were previously healthy, with no known underlying illness.

Appeals Court Rules Against Latest Trump Travel Ban
The 4th Circuit ruled in three consolidated lawsuits from Maryland. Court of Appeals for the 9th Circuit refused to reinstate the ban. Trump tweaked the order after the U.S.

Nirmala Sitharaman leaves for Jammu to assess security situation
Experts say the violence could escalate in the days ahead unless the governments of India and Pakistan take "urgent measures". The ongoing low-intensity conflict in Kashmir has raised questions about the efficacy of Narendra Modi's inflexible approach.

Johnny and Daniel face off again in first 'Cobra Kai' teaser
Danny and Johnny, of course, fought each other in the classic 1984 film " The Karate Kid ". This isn't the first time that Zabka and Macchio have crossed paths since The Karate Kid .

Turkish defense minister meets U.S. counterpart in Brussels
Turkey has been attacking the Kurds in northern Syria for the past three weeks, despite American calls for restraint. But the rising US-Turkey tensions add to concerns about the unusual nature of Tillerson's meeting.

Kicker Janikowski's Career With Raiders Has Ended After 18 Seasons
" Raiders informed kicker Sebastian Janikowski today that they do not plan to bring him back for the 2018 season, per source". The club technically could have activated him from injured reserve during the season, but that proved not to be feasible.

Xiaomi Launches Redmi Note 5 And Redmi Note 5 Pro In India
Unlike the Redmi Note 5 , it has Beautify 4.0 software which will result in better portrait mode photos, the company claims. The phone is backed by a dual-camera setup, making it first smartphone under Redmi series to feature dual rear cameras.

Rahul Gandhi only does 'election tourism': Piyush Goyal
It is also home to 24% of the state's scheduled caste population-one of the key support groups for the Congress. Under the name "JanaAshirwada' the Congress chose to begin its campaign in Hyderabad-Karnataka region".

The UK government reveals AI software that automatically blocks extremist content online
It says that the system uses advanced machine learning to analyze the sound and visual components of videos for "subtle signals". Ms Rudd is visiting the USA to meet tech companies to discuss the idea, as well as other efforts to tackle extremism.

American luger Emily Sweeney hospitalised after horror crash at Winter Olympics
A Sergeant in the New York Army National Guard, Emily Sweeney fought for years to make her Winter Olympics debut. This was the first Olympics for Sweeney, who missed out on a spot in the 2014 Winter Games in Sochi, Russia.