a New round of trade tensions in the steel market kicks off February 8 12:01 PM et. With this minute comes into force a new the disposal of the President of the United States Donald trump on expanding the list of metal products from steel and aluminum that are subject to import duties at 25 and 10 percent, respectively, prepared commercial products, such as cabling and wiring products, parts and spare parts of machines and mechanisms, fasteners and hardware products.
According to trump, he agreed with the Secretary of Commerce by Wilbur Ross that aluminum and steel products imported into the United States in such quantities and under such conditions that threaten the national security of the United States.
Washington will impose additional duties on products of steel and aluminium, including parts and finished products from all over the world. Except for Argentina, Australia, Canada and Mexico in the supply of aluminium for Argentina, Australia, Brazil, Canada, Mexico and South Korea in the supply of steel.
the decision on the new fees was made almost two years after the White house taking advantage of the law during the cold war introduced the world contested the tariffs on imported steel and aluminum, which led to the redirection of trade flows of steel products and caused in the middle of last year the crisis in the steel market.
President of the United States is actively using import duties to promote their political interests around the world. Earlier this week, at the world economic forum in Davos, he warned European leaders of new levies if they do not wish to compromise on the trade deal before us election in November 2020.
he added that now his attention will be drawn to Europe after he signed a trade truce with China after several years of trade war, which destabilized the global economy. "I wanted to wait until I'm done with China ... I didn't want to negotiate with China and Europe together."
Recall that recently the American metallurgical companies show weak financial results and again resorted to mass layoffs due to falling demand and prices. The effect of adopted in 2017 restrictions evaporated at the beginning of last year, and the doubling of prices in the American steel market yielded to a sharp decline amid rising prices for raw materials. Industrial regions and the steel plants were in the last election the backbone voted for trump residents of the United States.
