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Read on a page who will meet US tariffs?
After meeting with representatives of American Stahlindustriehat US President Donald Trump announced on Thursday to introduce tariffs of 25 percent steel imports and ten percent on aluminum imports. They’re supposed to be “for a long time”, Trump said. Details government nächsteWoche known, also wher re will be exceptions for certain countries. The USA is largest steel importer expedite, y mainly buy steel from EU, Canada and South Korea. China’s share was 5.3 percent last year, said DieWirtschaftsvereinigung Stahl.
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Steel prices have been a common me for years between USA, China and EU. Trump accuses or facilitate of pursuing an unfair trade policy that has led to demise of DerUS steel industry. He was not more specific in his announcement on Monday. It is clear that US steel industry has been shrinking for years – UndTrump wants to protect it with a protectionist trade policy. On Friday he tweeted, “If you don’t have steel, you don’t have a country.” (freely translated: “Without Steel no Nation”)
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We must protect our country and our workers. Our steel industry is in bad shape. If you don’t have steel, you don’t have a country!
— Donald J. Trump (@realDonaldTrump) March 2, 2018
In EinerAnalyse of US Department of Commerce it is said that since year 2000 ten steelworks had to close. Employment decreased by 35 percent in past 20 years, with some 140,000 people still working in industry. US steel producers are only 73 percent busy, and aluminum industry is only 48 percent – and in times of good economic activity. Trump’s trade minister, Wilbur Ross, has been examining US steel imports between April 2017 and January 2018, in a so-called procedure according to chapter 232. As a result, imports of US endanger NationaleSicherheit, which in turn justifies imposition of customs duties.
According to economist Dennis Snower, president of Institute of World Economy in Kiel, decline of American steel industry has or reasons than foreign competition. “The falling demand for American steel has more to do with technological advances and recycling than with unfair competition from abroad.”
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The Treaties with DerWelthandelsorganisation (WTO) allow protectionist measures if national security is compromised. Trump argues that US needs dieStahlproduktion for its defense industry. The European Commission considers this to be unsound. She referred to A’s introductory statementat US Department of Defense on Thursday. According to this, US military needs just three percent of DerUS steel production, a quantity that is easily covered by American production.
The steel industry association even speaks of a clear violation of rules derWelthandelsorganisation. The EU Commission now wants to start negotiations on dispute resolution as soon as possible.
Is international trade really as unfair from point of view of United States as Trump claims?
With his customs announcement, Trumpein is again focusing on known problem: large overcapacity in derStahlproduktion worldwide. China in particular has built up enormeKapazitäten in past, producing almost half of world’s steel volume. Accusations from or states, not just United States: ChinesischeStahlproduzenten, by means of government subsidies and AndererInterventionen, offer ir steel at dumping prices – i.e. under production costs.
It was not until early February that EU Commission imposed anti-dumping duties on einebesondere steel from China. The EU, however, is different from Trump: Commission imposes customs duties on a specific country and justifies that with price dumping, customs duties are in conformity with rules of World Trade Organisation. Trump, on or hand, is speaking of nationwide customs duties and justifies it with concern for national security.
