VALE - Biden's 25% China Tariff; Royal Gold Issues 2024 Guidance; Vale Reports Q1 Production And More: Wednesday's Top Mining Stories | Benzinga
Top Stories for April 17, 2024:
- During a visit to Pittsburgh, President Joe Biden plans to announce new trade policies aimed at boosting the U.S. steel sector by imposing a 25% tariff on certain Chinese steel and aluminum imports.
The move seeks to protect American manufacturing jobs from China’s "unfair" trade practices by more than tripling U.S. tariffs to 25% for some products and increasing others from 0% or 7.5%.
U.S. Trade Representative Katherine Tai will decide the final measures after reviewing current tariffs.
Although Chinese steel and aluminum make up a small part of the U.S. market ($1.7 billion), these policies strive to protect American manufacturers from a potential increase in imports and competitive pressures.
- Royal Gold Inc (NASDAQ:RGLD) issued its 2024 guidance, forecasting sales volumes, depreciation and amortization expense (DD&A) and tax rates.
The company expects to sell 215,000 to 230,000 ...