Trade Cases
Still Time to Register for Wednesday's Community Chat
Written by Michael Cowden
November 16, 2021
SMU’s Community Chat webinar on Wednesday will feature veteran trade attorney Lewis Leibowitz. We’ll talk Section 232, the tariff-rate quota (TRQ) with the EU, and the changing global trade landscape.
The free webinar begins at 11 a.m. ET (10 a.m. CT) on Wednesday, Nov 17. You can register right up to webinar time by clicking here.
Why should you listen? The EU TRQ goes into effect Jan. 1, 2022 – just around the corner – and replaces the blanket 25% tariffs imposed by the Trump administration in 2018.
Also, the U.S. on Friday announced that it had entered talks with Japan that could lead to an easing of Section 232 there too. Will the EU TRQ serve as a template for a deal with Japan, and what about potential future pacts with other U.S. allies such as the UK and South Korea? Does it herald a new period of managed trade in which U.S. adversaries – Russia and China, for example – are increasingly excluded from certain domestic markets?
And what does all of this mean for your business, especially if you’re a smaller trader or manufacturer? If you’re buying steel from the EU, for example, how do you comply with the “melted and poured” language in the TRQ?
Lewis will be our guide as we explore the opportunities and challenges of this new trade environment.
By Michael Cowden, Michael@SteelMarketUpdate.com
Michael Cowden
Read more from Michael CowdenLatest in Trade Cases
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.
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.
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.
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.
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.