President Donald Trump’s tariffs on foreign steel speed up the decline of some of the US mills he vowed to help.
The effort is also part of a strategy to stop Trump from slapping damaging duties on car imports from Europe, a danger that has especially unnerved Berlin.
A quota system would keep US metal prices high by limiting supply and lead to potential shortages - any push for quotas faces strong opposition in all three countries.
Trump has criticized Harley Davidson, calling for higher, targeted taxes and threatening to lure foreign producers to the United States to increase competition.
Korea Customs Service said more than 35,000 tonnes of North Korean coal and iron were imported into the South via Russia between April and October last year.
Ford warned that rising costs for raw materials like steel and aluminium, coupled with unfavourable exchange rates, would add $1.6 billion to its costs this year.
WASHINGTON/KANSAS CITY: The Trump administration on Tuesday said it will use a Great Depression-era programme to pay up to US$12 billion to help US...
The move follows a complaint by Shanxi Taigang Stainless Steel, with backing from four other mills including Baosteel's stainless steel division.
The European Commission has proposed a combination of a quota and a tariff to counter EU concerns that steel products no longer imported into the United States would instead flood European markets.
The measures are the third part of the EU's response to tariffs imposed by US President Donald Trump.
Canadian government customs provisions are expected to soften the blow on the country’s powerful automotive industry from retaliatory tariffs on US steel.
China’s aluminium exports exceeded half a million tonnes for only the second time ever, while steel exports hit an 11-month high.
Economists at ING Bank are hopeful Trump’s rhetoric will calm down after the mid-term elections, allowing Washington to reach a deal with Beijing.
The new trade barriers, combined with tougher US sanctions on Iran and Venezuela, are threatening to upend trade routes carrying trillions of dollars of commodities annually.
Steel prices and aluminium premiums are shooting up in the US thanks to tariffs, threatening to wreak havoc on manufacturers.
The two steel firms finally signed a deal on Saturday to create Europe's No.2 steelmaker with 17 billion euros (US$20 billion) in sales, marking the sector's biggest tie-up in more than a decade.
The tariff exemptions process is a new front in a battle between US steel and aluminium consumers, fighting to keep prices for those metals down.
India’s top steelmaker JSW Steel Ltd. says it’s scouting for more deals in the US and Europe to expand its global footprint, betting that vibrant growth will underpin demand in overseas markets and complement a boom at home that’s seen the mill ramp up local output.
Customs agents across Europe's colossal market of 500 million people will now impose the duty, hiking prices on US-made products in supermarkets and across factory floors.
Plains All American Pipeline, Hess Corp, and Kinder Morgan Inc are seeking exemptions from steel-import tariffs.
The metals magnate slipped past rival Alexey Mordashov Monday as shares of Lisin’s Novolipetsk Steel PJSC climbed 3.5%, pushing his fortune to $20.19 billion, according to the Bloomberg Billionaires Index.
The amateur pugilist traded in his "sunny ways" for fighting words. He also launched the largest trade action that Canada has taken in eight decades.
The Canadian tariffs, which Foreign Minister Chrystia Freeland said are proportional to the US duties, will be applied to US steel and aluminum as well as consumer products from July 1.
The measures, touted by President Donald Trump in March, drew condemnation from Republican lawmakers and the country's main business lobbying group and sent a chill through financial markets.
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