Tag: Trump

President Trump said a trade deal with Canada could come within the next few weeks.

US steel industry groups representing most of domestic steel production are urging the Trump administration to tighten trade measures on steel imports from South Korea. They are seeking a South Korea-specific tariff-rate quota (TRQ) and an investigation into a reported import surge.

Several steel trade organizations have called on President Trump to resist weakening Section 232 steel tariffs.

The American Iron and Steel Institute (AISI) is pressing President Donald Trump to raise the issue of China’s steel exports and industry subsidies during his upcoming summit with Chinese President Xi Jinping.

The retaliatory measures—which include 50% tariffs on US steel and aluminum—came after trade talks between Washington and Ottawa collapsed last month.

Rather than recruiting other countries to help, the US appears intent on threatening to punish countries, including its closest friends. In my experience, this strategy has never proved productive. 

The SMU Steel Summit kicks off on Monday in Atlanta, and we could spend the entire time just discussing trade developments since the last Summit.

A potential trade deal with Canada and a possible reduction in Section 232 tariffs has rocketed back into the news just a few weeks after it seemed like negotiations between Washington and Ottawa were kaput.

S232 tariffs of 50% provide a signal to domestic producers. Domestic prices have risen by approximately 50%. Similarly, the tariffs have simply moved the competitive threshold for imports 50% higher.

Downstream consumers of steel account for many times the employment in steel production. Yet the tariff manufacturers in the federal government have paid scant attention to the needs of most manufacturers.

We asked our readers what they thought the outcome of the ongoing USMCA talks might be as far as Section 232 tariffs go. Very few see an elimination of tariffs as likely.

We’ve gotten so used to the slow, steady increases by now that $5/ton feels like the new flat. And flat, after so many consecutive weeks of gains, feels like a decrease.

As all these initiatives unfold, one is left with the feeling that disruption of the global order is their primary purpose. As the old order is destroyed, it is time to think carefully about what will take its place.

Washington added long steel producer Antillana de Acero and state-owned mining company Geominera to its list of sanctioned companies in Cuba.

As the US enters negotiations and possible annual reviews of the USMCA, policymakers should preserve the S232 tariffs, which have clearly been necessary to protect the US steel industry.

Prime Minister Mark Carney asserted the Canadian and US governments should cooperate more closely on auto manufacturing, steel, critical minerals and aluminum.

Catherine Cobden, President and CEO of the Canadian Steel Producers Association (CSPA) called the past year’s 50% tariff imposed on Canada’s steel exports to the US ‘severe and unsustainable.’ 

Stronger for longer sentiment remains in the house when it comes to flat-rolled steel prices, according to SMU’s latest steel market survey.

If an industry suffers from high labor and energy costs, inefficient facilities, or lower productivity, tariffs do not solve those problems. They only mask them, transferring costs from inefficient producers to consumers.

Unsurprisingly, the Trump-Xi Beijing summit ended without a major announcement on trade. Behind the celebratory mood and photo-ops are years of economic harm from China’s predatory trade practices that cannot be overcome in a single meeting.

US Commerce Secretary Howard Lutnick said the US should pursue separate, bilateral trade negotiations with Canada and Mexico instead of renewing the US-Mexico-Canada Agreement (USMCA).

Lewis Leibowitz: Recent rulings suggest courts are reinforcing legal limits on tariff authority.

The process to reduce Section 232 steel and aluminum tariffs for producers in Mexico and Canada garnered mixed reactions from steel and metals’ supply chain advocacy groups.  

The Trump administration's invocation of the Defense Production Act authorizes the Department of Energy to use DPA tools to accelerate construction, expand domestic manufacturing capacity, and shore up critical supply chains – all areas with direct implications for steel.

It's cliche to say it. But spring traditionally brings new hope and green shoots—whether that's looking forward to vacations or increased business activity. While I viscerally share these positive feelings, I can’t help but thinking of three areas where I'm not feeling very hopeful. Namely, the US electrical grid, the national debt, and the Iran war.

USMCA provides strong support for North American competitiveness. US manufacturing has lost considerable capabilities over the last few decades. “Cheating” by other countries is not the only reason. Nor is it even the most important reason

According to the latest findings from SMU’s survey, more respondents answered that President Trump’s tariff policies have been helpful to their businesses than in the prior survey. 

No doubt, events will scramble the status quo. Meanwhile, the global systems that have prevented major wars for 80 years are sagging.

If I had to sum it up, I’d say “pain at the pump” is back. AAA says gasoline now averages more than $4 per gallon nationally ($4.08 to be precise) for the first time in for years. Meanwhile, diesel prices average $5.40 per gallon, according to the US Energy Information Administration. That’s up $1.81 per gallon from a year ago.

The Trump administration has implemented changes to its steel and aluminum tariff framework that alter how duties are applied to imported manufactured goods, according to an April 2 presidential proclamation.