US Court of International Trade ruled the additional tariffs on Turkish exports unconstitutional

The US Court of International Trade has ruled that the additional tariffs (additional 25 per cent) imposed by US President Donald Trump on Turkish steel exports are unconstitutional. Following the court’s decision, Turkish steel exporters are preparing to claim compensation for the damages that Trump’s ruling has caused them.  Read More

US Senate passes USMCA trade deal

The US Senate passed the new United States-Mexico-Canada Agreement (USMCA) trade agreement Thursday in an 89-10 vote, with the legislation now bound for the US President Donald Trump to sign.  Read More

US signs phase one trade deal with China

The White House has announced that the US has signed the phase one trade agreement with China. As a part of the new agreement, China has pledged to increase imports of American goods and services by at least $200 billion over the next two years, and the trajectory is expected to continue even after 2021. China has also agreed to purchase between $40 and $50 billion in American agricultural goods each year for two years., According to the agreement,... Read More

US announced new sanctions on Iran

The Trump administration announced today new sanctions on Iran, with specific sanctions against the country’s largest iron and steel manufacturers. “The President is issuing an executive order authorizing the imposition of additional sanctions against any individual owning, operating, trading with, or assisting sectors of the Iranian economy including construction, manufacturing, textiles, and mining,” US Treasury Secretary Steve Mnuchin told... Read More

US not to pursue tariffs on Brazilian steel

Brazilian leader Jair Bolsonaro announced on social media following a conversation he had with Donald Trump that the US President has decided not to pursue tariffs on Brazilian steel. The US was threatening to reimpose the 25 percent safeguard duty on imports of Brazilian steel and the 10 percent tax on imports of ex-Brazil aluminium. No official document has yet been released by the US on the issue.  Read More

The US has reinstated tariffs on all steel imports from Brazil and Argentina

The US has reinstated tariffs on all steel and aluminum imports from Brazil and Argentina with immediate effect, on currency issues, US President Donald Trump tweeted earlier today. The Trump administration imposed a blanket 25% tariff on all steel imports, and of 10% on all aluminum imports, in March 2018 under Section 232 legislation,. Later in June 2018, the restrictions on Brazil and Argentinian steel and aluminum were converted to a quota system.... Read More

President Trump increases “Buy American” threshold to 95 percent

US President Donald Trump signed an executive order Monday, July the 15th that will require federal agencies to purchase products using more American components. The order strengthens the standards that federal agencies must follow under the Buy American Act, which creates a preference for American-made goods. Trump said his order will gradually boost the percentage of U.S. components for qualifying American-made products from 50 percent to 75 percent.... Read More

Short Range Outlook : June 2019

Uncertainty in global long steel products market increases dramatically The uncertainty in the global long steel products market has increased dramatically. Nowadays, the most stable region is China, where steelmakers have been increasing their weekly production volumes, whereas the rest of the world is just trying to hang on. Ferrous scrap and iron ore price trends decouple completely Ferrous scrap and iron ore price trends have completely decoupled. Iron... Read More

US not to impose punitive tariffs against imported products from Mexico

The Trump administration announced they would not be moving forward with punitive tariffs against imported products from Mexico. Presdient Trump had previously announced the US would be imposing a five percent tariff on all goods imported from Mexico, including steel, adding that the tariff would be increased up to 25 percent by October if Mexico did not take action to “dramatically reduce or eliminate” the number of illegal aliens crossing its... Read More

US to impose five percent tariff on all Mexican goods as of June 10

According to a White House statement, US President Donald Trump has said that, starting on June 10, the United States will impose a five percent tariff on all goods imported from Mexico. He added that this tariff will be increased up to 25 percent in the coming period if Mexico does not take action to dramatically reduce or eliminate the number of illegal aliens crossing its territory into the US. The White House statement indicated that, if the illegal... Read More

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