Trade Cases
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/media/k2/items/src/8aaebc16a31607216b5ea7255d611811.jpg)
U.S., China Sign Phase One Trade Deal
Written by Tim Triplett
January 15, 2020
In a concession to the Chinese as part of the phase one trade agreement signed Wednesday by President Trump and China’s Vice Premier Liu He, the U.S. will cut Section 301 duties on $120 billion in Chinese goods in half, from 15 percent to 7.5 percent, effective Feb. 14. China has agreed to increase its purchases of U.S. products by $200 billion over 2017 levels.
Trade issues with the Chinese are ongoing, however. The U.S. will maintain 25 percent tariffs on another $250 billion of Chinese products. China will maintain retaliatory tariffs on some U.S. goods.
The Federal Register notice issued by the U.S. Trade Representative on Wednesday stated: “On Dec. 13, 2019, following months of negotiations, the United States and China reached an agreement on a phase one trade deal that requires structural reforms and other changes to China’s economic and trade regime, including with respect to certain issues covered in this Section 301 investigation. The United States and China signed the phase one agreement on Jan. 15, 2020, and the agreement is scheduled to enter into force 30 days thereafter on Feb. 14, 2020. In light of the scheduled entry into force of the phase one agreement, and at the direction of the president, the U.S. Trade Representative has determined that the action announced on August 20, 2019, as modified by the August 30 notice, no longer is appropriate. Specifically, and in accordance with the president’s direction, the U.S. Trade Representative has determined to reduce the level of additional duties from 15 percent to 7.5 percent on products of China covered by Annex A of the Aug. 20 notice, effective Feb. 14, 2020….”
“Yesterday the U.S. Trade Representative released a Federal Register notice halving the 15 percent tariffs on products in List 4A—products hit with tariffs as of Sept. 1, 2019. This was part of the phase one deal with China signed yesterday. As a reminder, the exclusion deadline for List 4A products remains Jan. 31. The new Federal Register notice does not mention the exclusion process; therefore, there is no change in that schedule,” reported Washington trade attorney Lewis Leibowitz.
If honored by both sides, the eight-part phase-one agreement will lead to an increase in sales of U.S. goods and services to China and provide new protections for trade secrets and intellectual property. But many difficult trade issues are still to be addressed in the next round of negotiations between the two nations in control of the world’s largest economies.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2023/04/tim-triplett.jpeg)
Tim Triplett
Read more from Tim TriplettLatest in Trade Cases
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/fist.png)
Steel industry groups urge House action on LTPF 2.0
Six steel industry organizations have urged House Speaker Mike Johnson to include the Leveling the Playing Field 2.0 Act in any proposed package of legislation against China’s "unfair" trade practices.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2023/07/CRU-Logo-2023-07-21-at-4.35.41-PM.png)
CRU: Poor steel margins continue to push down raw material prices
Both iron ore and coking coal prices fell this week because of resistance from buyers. Iron ore prices have continued to fall throughout the past week, following sharp declines in steel prices in China, given no new policy announcement from the ‘Third Plenum’ meeting.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2023/07/CRU-Logo-2023-07-21-at-4.35.41-PM.png)
CRU: Imports cause concern in India and Vietnam
High levels of steel imports, especially from China, in recent months are worrying steel makers in India and Vietnam.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2024/04/Price-Alan-FullRes-3000px-scaled.jpg)
Price: The new greenwashing – subsidies to bail out obsolete, excess capacity
The United Kingdom and other countries are using the “green” label to subsidize bailouts of obsolete, inefficient, and excess capacity that should exit the market. US steelmakers have invested billions of dollars in technologies that curb greenhouse gas output. These investments have been market-based and led by EAF producers such as Nucor, Steel Dynamics, and CMC.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/AISI.png)
AISI, AISC, University of Massachusetts get ~$6.4M EPA grant
The American Iron and Steel Institute (AISI), American Institute of Steel Construction (AISC), and the University of Massachusetts at Amherst have received a grant to enhance emissions reporting for steel construction projects.