Sentences with phrase «steel imports»
"Steel imports" refers to the goods or products made of steel that are brought into a country from another country. Full definition
One of the agency's suggestion outlined in its report released last month was a 24 percent tariff on steel imports from all countries.
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As others have noted, steel is only a small portion of the trade deficit (7 %), and a tariff will eliminate only some of steel imports.
It is unclear whether the new tariffs will affect Australian steel imports.
Who knew regulating steel imports could be so complicated?
For example, what is the definition of national security, and how do steel imports impact it?
The former implies that we are taking steel imports to be independent of exports.
The administration announced plans to impose 10 percent tariffs on aluminum imports and 25 percent on steel imports.
They pointed to President George W. Bush's tariffs on steel imports in 2002, which were rescinded after fewer than two years when the World Trade Organization came out against them.
The US blames overcapacity in the Chinese steel producing sector for trade deficits and for hurting the domestic industry, even though only around five percent of US steel imports come from China, and US steelmakers aren't in such dire straits.
«Coincidentally, next Tuesday, the U.S. Department of Commerce is expected to provide formal recommendations to the President regarding possible action to combat U.S. steel imports on national security grounds.»
According to reports, we are just days away from finding out what the White House is planning to do as it concludes its investigation into whether steel imports into the US constitute a threat to national security, which was announced in late April.
It's not unusual for presidents to target certain imports that harm US industries — Barack Obama slapped duties on certain Chinese steel imports in 2016 — but the new tariffs go much, much further.
Deadline for Commerce Dept. recommendations on whether steel imports threaten US national security
President Donald Trump announced Thursday the U.S. will set tariffs of 25 percent for steel imports and 10 percent for aluminum imports next week.
Trump gave U.S. steel producers a big gift in early March by imposing tariffs of 25 percent on steel imports from most foreign countries.
Mubasher: The GCC counties are planning to impose a $ 169 per tonne tariff on iron and steel imports as of 15 May.
President Trump's plan to slap tariffs on steel imports threatens his quest for «American energy dominance,» energy groups say.
Loomis pointed to the last time the U.S. imposed tariffs on Canadian steel imports, which occurred under former president George W. Bush.
Canada, South Korea, and Brazil, for example, are the largest sources of raw steel imports to the United States.
They accuse Chinese steelmakers of harming their industry by flooding the United States with cheap steel imports.
On February 16, Commerce Secretary Wilbur Ross issued a statement that he had suggested Trump consider several recommendations regarding steel imports, including a 24 percent global tariff.
U.S. steel companies want to restrict steel imports so that they can sell more steel to American companies and charge them higher prices.
US BLAMES CHINA STEEL IMPORTS FOR TRADE DEFICITS: But only five percent of US steel imports come from China, and Canada is the biggest exporter of steel to the US.
The Trump administration has opened a wide - ranging probe into whether to curb steel imports in the name of national security, ramping up its campaign to give a more economic nationalist tinge to American trade policy.
The goal of the tariffs is to reduce total steel imports and boost U.S. production, Ross said.
DETROIT, March 2 - If U.S. «Domestic producers of steel would make more money, while domestic consumers of steel would make less money,» said Steve DuBuc, a director at consulting firm AlixPartners» automotive and industrial practice, noting that U.S. steel makers will «have increased pricing power» as steel imports become more expensive.
The recent trade volleys between China and the U.S. came after Trump's tariff plan for aluminum and steel imports earlier this year.
Ross said that if the Commerce inquiry finds the U.S. steel industry is suffering from too much steel imports, he will recommend retaliatory steps that could include tariffs.
Shares of major steel manufactures are jumping since President Donald Trump officially ordered an investigation on Thursday that looks into the impact steel imports have on national security.
Washington's move to probe steel imports could trigger a trade dispute between the United States and its major trading partners, who are likely to take retaliatory steps, the official China Daily said in an editorial on Monday.
Surrounded by steel and aluminum workers, U.S. President Donald Trump (C) signs a «Section 232 Proclamation» on steel imports during a ceremony in Roosevelt Room the the White House March 8, 2018 in Washington, DC.
Germany, the EU's largest steel exporter to the U.S., accounted for about 5 percent of U.S. steel imports last year.
The Trump administration said it had reached an agreement with South Korea on steel imports following discussions on a revised trade agreement, the outlines of which were previously announced by U.S. and South Korean officials.
The department offered other recommendations for addressing steel imports, including a 53 percent tariff targeting imports from China, Russia and 10 other countries.
Canada also made up the largest share of American steel imports in 2016 — 17 percent — followed by Brazil, South Korea, Mexico and Turkey.
The reports found that United States steel imports were nearly four times our exports, and that aluminum imports had risen to 90 % of total demand for primary aluminum.
AK Steel CEO Roger Newport praised Trump's decision, saying he fully supports «the actions he plans to take to stem the tide of unfairly traded steel imports that threaten the national security of our country.»
Tariffs against steel imports should have excited analysts across the board.
The letter warns that placing Section 232 restrictions on basic steel imports will «adversely impact national security, the economy and the steel industry itself because it will undermine [United States steel using manufacturers»] competitiveness and our ability to make value - added products here.»
«Businesses need access to quality steel imports at global market prices in order to expand,» the AIIS report said, «and the protectionist measures that some say should be implemented to shield domestic manufacturers from foreign competition would disrupt the steel supply chain, drive up capital costs, and increase expenses downstream all the way to the consumer.»
In early April, Commerce started the Section 232 investigation, focusing on whether steel imports represent a threat to national security.
COMMERCE NORMALLY APPLIES DUTIES ON NARROW CATEGORIES OF PRODUCTS: But the Commerce Secretary articulated the issues surrounding steel imports in sweeping terms.
As far as steel goes, China is the eleventh largest exporter to the United States, generally accounting for less than three percent of steel imports over the last few years.
Nearly 17 % of steel imported into the US comes from Canada, according to S&P Global Platts.
It's not unusual for presidents to target certain imports that harm US industries — Barack Obama slapped duties on certain Chinese steel imports in 2016.
The tariffs indirectly affected China, which accounted for about 2 percent of U.S. steel imports in 2017.
Raw steel imported from foreign countries but finished in the U.S. will be exempted from the rule.