Trade Cases

Trump Tweet Calls for Tariffs on Steel from Brazil, Argentina
Written by Tim Triplett
December 2, 2019
President Trump stunned the market with an early-morning tweet Monday calling for new Section 232 tariffs on steel imports from Brazil and Argentina, which he accused of currency manipulation. No word yet on whether the White House will make the tariffs official, or even if they would be legal. But the prospect of higher priced imports is particularly onerous to re-rolling mills in the U.S. that are dependent on foreign slabs.
The president tweeted:
“Donald J. Trump @realDonaldTrump 5:59 AM – Dec 2, 2019
Brazil and Argentina have been presiding over a massive devaluation of their currencies, which is not good for our farmers. Therefore, effective immediately, I will restore the Tariffs on all Steel & Aluminum that is shipped into the U.S. from those countries. The Federal Reserve should likewise act so that countries, of which there are many, no longer take advantage of our strong dollar by further devaluing their currencies. This makes it very hard for our manufactures & farmers to fairly export their goods. Lower Rates & Loosen – Fed!”
Currently, steel imports from the two countries are limited by quarterly quotas. The president’s action would subject imports from Brazil and Argentina to 25 percent tariffs. What would happen to the quotas remains unclear.
Steelmakers contacted by Steel Market Update declined to comment on how their companies would be impacted by tariffs on Brazilian slab, as the situation is still developing. Among the mills that could be affected are California Steel Industries, JSW Texas, NLMK USA, EVRAZ and AMNS Calvert.

Tim Triplett
Read more from Tim TriplettLatest in Trade Cases

US and Canada expect positive outcomes from tariff negotiations
Canadian Prime Minister Mark Carney and US President Donald Trump told reporters at the White House on Tuesday that they’ll be formulating a trade deal that works for both nations.

Leibowitz: When the shutdown should end
There is no doubt that the current government shutdown reflects the vast divisions between the extremes of American politics, society, and even geography. Almost all Americans agree that government is necessary, but voters disagree...

Price: The U.S. Steel shutdown that wasn’t and a call to stop ‘valuation cheating’
How can the U.S. government block U.S. Steel’s Granite City rolling mill closure without harming other American steelmakers? Reducing imports should be the first step. Foreign producers continue to aggressively target the U.S. market, especially now as they find themselves displaced by Chinese exports.

US steel industry applauds ITC final determination in coated trade case
Domestic mills praised the US International Trade Commission’s (ITC's) final determination that imports of corrosion-resistant (CORE) steel from 10 countries pose a threat to them.

ITC’s final ruling: Dumped, subsidized CORE imports are harming domestic market
The US International Trade Commission (ITC) finds that corrosion resistant steel (CORE) imports from 10 countries have caused material damage to domestic product producers, according to the ITC’s statement.