On June 24, the US Trade Commission will begin investigating a complaint filed by major US steel producers seeking anti-dumping duties on rebar imports from producers in four countries, including Egypt and Algeria. This complaint threatens both countries with millions of dollars in losses. Major US steel producers have filed a complaint against some steel […]
US and Mexico are nearing a deal that would remove U.S. President Donald Trump’s 50% tariff on steel imports up to a certain amount, according to people familiar with the matter. This would be a modification of a similar agreement between the two trading partners during Trump’s first term. Trump has not been directly involved
US and Mexico are nearing a deal to ease steel tariffs Read More »
US tariffs have returned to the spotlight in Europe, with US President Donald Trump’s decision to impose a 50% tariff on steel and aluminum imports to the United States, up from 25%. The decision was part of an executive order signed by Trump on Tuesday, declaring that this step aims to protect American industry from
Trump’s steel tariffs take effect… and Britain is temporarily exempted. Read More »
US President Donald Trump’s announcement that he would double tariffs on steel and aluminum imports to 50% has sparked widespread concern in Canada, the largest steel supplier to the US market. The Canadian Steel Producers Association described the decision as “catastrophic,” warning of the potential loss of thousands of jobs and significant disruption to supply
Canada warns of economic crisis due to Trump’s doubling of steel tariffs Read More »
US President Donald Trump said on Friday he intends to increase tariffs on foreign steel imports from 25% to 50%, increasing pressure on global steel producers and threatening to expand his trade war. “We’re going to increase it by 25%,” Trump said during a rally in Pennsylvania. “We’re going to increase the tariffs on steel
Trump says he plans to double steel tariffs to 50% Read More »
The U.S. Department of Commerce (DOC) announced the final results of its periodic review of anti-dumping duty (AD) imports of welded stainless steel pressure pipe (WSSPP) from Malaysia, Thailand, and Vietnam. The Department explained that rescinding the duty on these products from the three countries would likely result in the continuation or recurrence of dumping
US to Continue Anti-Dumping duty on welded stainless steel from Three Countries Read More »
US President Donald Trump criticized a court ruling on Thursday that suspended the “reciprocal” tariffs imposed since early April on all goods exported to the United States, while Beijing urged the White House to “completely repeal” them. While the three judges at the US Court of International Trade did not object in their ruling to
Trump criticizes court ruling against tariffs, China calls for their repeal Read More »
President Donald Trump said he has agreed to postpone the imposition of 50% tariffs on European Union imports until July 9, the latest in a series of announcements of imminent tariffs that have rattled markets and then subsequently backed down. Trump explained that he had a “very nice” call with European Commission President Ursula von
Trump Postpones Imposing 50% Tariffs on EU Until July 9 Read More »
According to preliminary census data from the US Department of Commerce, US imports of rebar totaled 85,753 mt in February this year, up 85.9% month on month and down 11.5% year on year. By value, rebar imports totaled $52.3 million in March this year, compared to $30.8 million in February and $59.7 million in March
US rebar imports down 11.5% in March 2025 Read More »
In a move aimed at strengthening domestic industry and stimulating the job market, US President Donald Trump announced his approval of a strategic partnership between Japan’s Nippon Steel and US Steel to produce steel in the United States. Trump explained in a post on Truth Social on Friday that this deal will contribute to the
Trump Gives Green Light to Nippon Steel-US Steel Merger Read More »
Amid political pressure and national security concerns, Japan’s Nippon Steel has raised its investment offer to $14 billion in a desperate bid to secure US approval for its acquisition of US Steel, the venerable company founded in 1901 and an industrial icon in the electorally vital state of Pennsylvania. According to a document reviewed by
Japan’s Nippon Steel Raises Bid to $14 Billion to Save US Steel Deal Read More »
According to preliminary census data from the US Department of Commerce, US monthly steel imports in March this year were up 11.6% from February and down 0.6% year on year to total 2,271,358 metric tons. In terms of value, US steel imports in March totaled $2.61 billion, compared to $2.30 billion in February and $2.77
US steel imports up 11.6% in March 2025 Read More »
In a surprise move that sparked a wave of optimism in global markets, the United States and China announced a historic agreement to significantly and temporarily reduce tariffs on each other’s imports for an initial 90 days, while establishing a sustainable mechanism to continue economic and trade talks. The joint statement, issued after marathon negotiations
Historic US-China Tariff Mechanism Agreement Read More »
US President Donald Trump said his administration has reached an important agreement with the UK, noting that final details of the trade agreement will be announced within a few weeks. For his part, British Prime Minister Keir Starmer said that the trade agreement with the US is great and in the interest of both our
United States and Britain Announce a Trade Agreement Read More »
According to export data from the US Department of Commerce, US exports of cold rolled coils totaled 48,412 mt in February this year, down 34.9% month on month and down 19.2% year on year. By value, CRC exports totaled $64.2 million in February, compared to $89.2 million in the previous month and $78.1 million in
US CRC Exports and Imports Decline in February 2025 Read More »
POSCO Group, a leading South Korean steelmaker, said it will invest in Hyundai Steel’s US steel mill project as part of its strategy to address the comprehensive tariffs imposed by US President Donald Trump on steel imports. According to a press release, POSCO signed a memorandum of understanding with Hyundai Motor Group to participate in
POSCO Invests in Hyundai Steel’s US Steel Mill Project Read More »
China has denounced countries that are practicing “appeasement” with the United States in trade negotiations regarding US tariffs, stressing that it “firmly opposes” any agreement that harms its interests. Washington imposed 145% tariffs on most Chinese goods, even as high as 245% on some products, such as electric cars. In response, China imposed 125% tariffs
Hundreds of global financial and economic leaders are flocking to Washington, D.C., this week for the 2025 semi-annual Spring Meetings of the International Monetary Fund and World Bank Group. The atmosphere is tense, with one major concern: how to negotiate relief from the latest US tariffs. While these meetings typically focus on coordinating global policies
Tariffs Dominate IMF and World Bank Meetings Read More »
Container ships, the backbone of global trade and transporting about 90% of the world’s manufactured goods, have become a new target in Donald Trump’s conflict with China, and none of the major shipping companies appear to be immune from the potential additional costs. Trump wants to penalize Chinese ship operators to stimulate the development of
Trump’s Tariffs on Chinese Ships Threaten Shipping Giants Read More »
According to export data from the US Department of Commerce, monthly steel exports in February this year down 13.3% from January and 12.2% year on year to 613,979 mt. In terms of value, US steel exports in February totaled $1.08 billion, compared to $1.19 billion in January and $1.25 billion in February last year. Steel
US steel exports down 13.3% in February 2025 Read More »
The Chinese Ministry of Finance announced a short while ago, Friday, that Beijing will raise tariffs on all US goods from 84% to 125%, effective April 12. The statement read: “Even if the United States continues to impose higher tariffs, it will make no economic sense and will become a joke in the history of
Urgent: China Raises Tariffs on US Goods to 125% in Unprecedented Escalation Read More »
Iron ore prices fell during Wednesday’s trading amid escalating global trade tensions, touching their lowest level in more than six months. The most actively traded iron ore futures contract for September delivery on the Dalian Exchange ended trading today down 2.68% at 689 yuan ($93.74) per metric ton, after touching its lowest level since September
Iron ore prices fall to lowest level in more than six months Read More »
US President Donald Trump announced today that he had authorized a 90-day temporary suspension of his tariff plan, but also raised the tariff rate on China to 125%, effective immediately, from 104%. Trump added that he had “authorized a 90-day suspension and a significant reduction in the reciprocal tariff during that period, by 10%, effective
Trump suspends tariffs on China for 90 days, raises them to 125% Read More »
China has raised tariffs on US goods to 84% from 34%, effective April 10, according to a government statement released Wednesday, in a new escalation of the trade war that has rocked global markets. China’s move comes as Trump’s latest tariffs took effect in Beijing on Wednesday afternoon, bringing the total US tariffs on Chinese-made
New escalation in trade war: China raises tariffs on US goods to 84% Read More »
US President Donald Trump’s unprecedented 104% tariffs on all Chinese imports took effect Wednesday morning (12:00 a.m. Washington time on Tuesday). These new tariffs are in addition to the tariffs previously imposed on China before the start of Trump’s second term, deepening the trade dispute between the world’s two largest economies. Tariffs on Chinese imports
Trump’s 104% Tariffs on China Take Effect Read More »
US President Donald Trump has directed the Committee on Foreign Investment in the United States (CFIUS) to conduct a fresh review of Nippon Steel’s bid to acquire US Steel to help determine whether “further action” is appropriate to complete the deal. This action has raised hopes for a green light for the deal, with US
Trump Orders Review of US Steel Deal, Shares Jump 16% Read More »
China has vowed to fight US tariff threats ‘to the end’ after President Donald Trump threatened to increase tariffs on Chinese imports by 50% starting April 9 if Beijing does not withdraw its retaliatory measures. The tit-for-tat escalation has ignited global markets, leading to a decline and turmoil in global stock markets and raising fears
China vows to fight US tariff threats ‘to the end’ Read More »
European Union countries are seeking a unified response in the coming days to US President Donald Trump’s tariffs, and are likely to agree on a first set of countermeasures targeting up to $28 billion in US imports. This move would see the EU join China and Canada in imposing countermeasures on the United States in
EU seeks unified response to Trump tariffs Read More »
International Monetary Fund Managing Director Kristalina Georgieva warned that the new tariffs announced by US President Donald Trump on his country’s imports pose a “significant risk” to the global economy. “It is important to avoid actions that could further damage the global economy,” she said in a statement, as Washington’s trading partners consider retaliatory measures
IMF warns: Trump’s tariffs pose a “significant risk” to the global economy Read More »
The US administration has announced exemptions for a number of essential goods, including steel, aluminum, copper, and gold bullion, from retaliatory tariffs, according to an official document distributed by the White House. The White House said that steel and aluminum imports will not be subject to reciprocal tariffs, a move that will at least provide
White House Exempts Steel, Aluminum, Copper, and Gold from Reciprocal Tariffs Read More »