CXSE - U.S. Extends Metals Protectionism
2024-05-08 04:00:00 ET
Summary
- The Biden administration announced a new round of tariffs on imports of steel and aluminum from mainland China, including a more than three-fold increase in the Section 301 tariff rate for Chinese steel imports.
- A larger issue for the growth in Chinese steel exports will be felt by the broader global market, which may not be as isolated from supply shocks in steel as the US.
- Iron and steel imports to Mexico from China increased by 9.1% in the fourth quarter of 2023 before falling in January and February combined.
Eric Oak of the Supply Chain Insights team co-authored this report
The Biden administration announced a new round of tariffs on imports of steel and aluminum from mainland China, including a more than three-fold increase in the Section 301 tariff rate for Chinese steel imports. Given the upcoming US elections in November, the timing suggests this is a political move rather than being purely economically driven....
U.S. Extends Metals Protectionism