Steel Products
Goodbye to Section 232 Tariffs in December?
Written by Sandy Williams
June 9, 2021
A deadline has been set by the European Union and the U.S. to end Section 232 steel and aluminum tariffs, and any retaliatory measures, by Dec. 1, according to a draft communiqué obtained by Reuters. An announcement of the agreement is expected at the G7 Summit next week in Brussels.
“We commit to work towards lifting before 1 December 2021 all additional/punitive tariffs on both sides linked to our steel and aluminum dispute,” the draft said.
The communiqué also includes a commitment to ending the dispute regarding subsidies to aircraft companies, Boeing and Airbus, by July 11.
Lifting of the tariffs will be welcomed by manufacturers in the U.S. although they are still strongly supported by the steel industry. But all things come to an end. As the president of the Steel Manufacturers Association President Philip Bell noted in a SMU Community Chat webinar, “all tariffs have a shelf life.”
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Products
Steel imports strengthen through April licenses
March 2024 represents the third highest monthly steel import rate seen over the prior year.
Active rig counts mixed entering May
Drilling activity declined in the US but increased in Canada, according to the latest data from Baker Hughes.
AISI: US steel shipments slip y/y in March
US steel mill shipments dropped in March on-year but were up from February, according to the most recent figures from the American Iron and Steel Institute (AISI).
Northwest Pipe profits soar in first quarter
Northwest Pipe’s profits more than doubled in the first quarter on-year, as the company expects a strong remainder of the year in both its steel pressure pipe and precast segments.
CRU aluminum: Extrusion shipments, earnings highlights
Latest AA extrusion shipment report shows persistently weak demand The US Aluminum Association released its latest shipment report for extruded products. According to the report, shipments in March 2024 totaled 383.2 million pounds, representing a drop of 10.6% y/y but a rise of 4.5% m/m. For the YTD period through March, total shipments are now […]