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

Price: What another round on the tariff carousel means for US trade policy
The day-to-day bustle of these announcements should not obscure what they signal for other potential tariff measures in the near term and a revamped trade and economic policy in the long term.

Commerce sets initial CVDs of 0-140% in coated steel trade case
The Commerce Department on Tuesday issued preliminary subsidy rates in the corrosion-resistant steel (CORE) trade case. The agency set minimal countervailing duty (CVD) rates for Brazil and Mexico, mostly high rates for Vietnam, and low rates for Canada, except for one privately held distributor. Commerce assigned that company, Nova Steel, and a handful of Vietnamese […]

Tampa Steel Conference: Trade attorney says brace for turbulence
Steel and aluminum have been identified as high priorities for trade

Trudeau, Trump agree to push tariffs until March
Canada fights back, a little As this article was about to be posted, Canada had not backed down to US President Trump’s 25% tariffs coming for Canadian goods at the stroke of midnight. In fact, the Government of Canada had pushed back, saying it would implement 25% tariffs on $155 billion worth of US products […]

US shelves Mexico tariffs until next month
“It is not by imposing tariffs that problems are resolved, but by talking and dialoguing,” President Claudia Sheinbaum said.