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Erecting trade barriers? —— Trump seeks investigations into steel imports

Writer:Fanny KangDate:2017-4-21 10:08

Erecting trade barriers?

—— Trump seeks investigations into steel imports


WASHINGTON (Reuters) - President Donald Trump on Thursday launched a trade probe against China and other exporters of cheap steel into the U.S. market, raising the possibility of new tariffs and sending shares of some U.S. steel makers up over 8 percent.

Erecting trade barriers —— Trump seeks investigations into steel imports


Sino-US trade friction "main battlefield"

China's steel exports have been the "main battlefield" of Sino-US trade friction. China is currently the world's largest steel producer, Western countries believe that China's steel exports caused a global steel crisis, resulting in reduced jobs and factory closures.

Data show that the United States in 2016 imports of about 30 million tons of steel, compared with 2015 fell 14%, the main source of imports for Canada, Brazil, South Korea, Mexico, Japan and Germany.

With the United States on China's exports to the US steel products frequently launched trade sanctions, China's steel exports to the United States dropped significantly. 2016 in January-November, China's exports of US steel 1.071 million tons, compared with 2.294 million tons in 2015, down 53.3%.

In February this year, the US Department of Commerce on China's stainless steel sheet anti-dumping and countervailing investigations made final ruling, ruled that Chinese enterprises 63.86% -76.64% of the anti-dumping tax rate and 75.6% -190.71% countervailing duty rate, the ruling in the Chinese industry Highly dissatisfied.

Earlier this month, the heads of state of China and the United States set a hundred-day plan in Florida, the two sides will focus on cooperation in the field of trade launched a 100-day negotiations aimed at increasing US exports to China to narrow up between the two countries up to 347 billion Trade deficit.


Asked whether the move would affect his dealings with China over North Korea, Trump said: "This has nothing to do with China. This has to do with worldwide, what's happening. The dumping problem is a worldwide problem."

TypeInfo: Industry News

Keywords for the information:Trade barrier  Trump  Steel