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Kallanish Steel Weekly: Global steel markets ponder new trade war

Kallanish Steel Weekly: Global steel markets ponder new trade war (Feb. 20, 2018)

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Last week the main global steel market, China, entered its annual holiday period to celebrate the beginning of the Year of the Dog. While this has brought some calm to the international raw materials and finished steel markets, much of the discussion during recent days has focused on new developments linked with the US Section 232 investigation.

US President Donald Trump now has until April to decide how to act based on the report, which he received last week from the department of Commerce. This suggested, among other possibilities, the imposition of a 24% tariff on imports of all steel products from all countries, supplemented by a 53% tariff for specific importers including China, Russia, Brazil and Turkey.

 

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