US trade Minister Wilbur Ross wants to significantly reduce steel and aluminium imports to USA. In a report to President Donald Trump, Ross proposes three ways to protect US steel industry against cheap imports due to global steel overcapacity. The first option would be a general duty on steel imports from all countries, which would n be at least 24 percent. The second possibility is targeted tariffs on imports from twelve countries, including China, Russia and India, and Turkey as only NATO country.
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Germany, where, among or things, imports of Salzgitter AG were under observation by US authorities would be omitted here, but would have to freeze its exports at level of 2017, like all or countries. Third option would be no tariffs, but a freezing of exports from all countries at 63 percent of 2017 imports for each country.
US president Donald Trump has to make a decision on steel imports by April 11, by 19 April with regard to aluminium imports, for which Ross likewise made proposals for punitive tariffs. However, recommendations of punitive tariffs are lower here. And with China, Hong Kong, Russia, Venezuela and Vietnam, second option would only affect five countries. Trump doesn’t have to follow suggestions.
True to its America-first doctrine, Trump pursues a trade policy that, in opinion of critics, goes beyond protectionist foreclosure. He put international trade agreements to test or even announced m. At end of January he ordered protective tariffs on Asian washing machines and solar modules. At beginning of this week, he also caused unrest in German economy by referring to need to impose “reciprocal taxes” on goods from countries that in turn levy customs duties on American goods.
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In case of steel and aluminium imports, US government relies on a bill of law that allows president to impose import restrictions if it serves national security. Trump must decide until April, if he orders measures.
