EU notifies WTO of potential counter-measures on certain US products
The World Trade Organization (WTO) has announced that the European Union (EU) has notified the WTO’s Council for Trade in Goods of its proposed suspension of concessions and other obligations that are substantially equivalent to the amount of trade affected by the measures imposed by the United States (US). Accordingly, the EU has stated that it reserves its right to take counter-measures against the US tariffs on steel and aluminum imports. According... Read More
Turkey has launched a safeguard investigation on certain steel products
According to a statement from the Turkish Ministry of Economy, Turkey has launched a safeguard investigation on imports of certain steel products to determine if these imports harm or threaten to harm domestic steel producers. Products subject to the investigation include certain flat, long, pipe and hollow sections, railway and tram line components and stainless flat steel products. The product scope of the investigation may change pertaining to... Read More
Short Range Outlook : April 2018
Confusion and uncertainty reign in global long products market There is obvious confusion and uncertainty in the global long steel products market triggered by the announcement of new tariffs on steel imports by President Trump as a result of the Section 232 investigation in the US, the subsequent exemptions from these tariffs, and the resulting safeguard investigation announced in the EU. Major exporters to the US – Canada, Mexico, Brazil,... Read More
Temporary exemptions to Section 232 tariffs will expire May 1
A report issued late Thursday by US Customs and Border Protection indicates that the temporary exclusions for US steel tariffs under Section 232 will expire as of May 1. Starting that day, all countries of origin will be subject to the 25 percent tariff on US steel imports. The tariffs are effective with respect to goods entered, or withdrawn from warehouse for consumption, on or after March 23, 2018. Countries with temporary exclusions to the tariffs... Read More
US adds EU, Brazil, Argentina, Australia, and South Korea to temporary tariff exemption list
US Trade Representative Robert Lighthizer announced that the European Union, Brazil, Argentina, Australia, and South Korea will be temporarily excluded from the 25 percent tariff on steel and 10 percent tariff on aluminum under the Section 232 which is set to go into effect for all other countries Friday, March 23. According to media reports, Lighthizer told the Senate Finance Committee that the Trump administration would base exemptions on “a... Read More