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  1. #1

    Default U.S. steel tariffs include Turkey, Russia and Vietnam.The EU is the loser.

    ion's tariff bomb on imported steel and aluminum hit the U.S. in March, global steel products rushed to Europe, and European steel companies were hit hard.

    The Wall Street Journal reported on Monday (local time) that the Trump administration's steel tariff bombs produced "winners" and "loser" while exporting steel products to Europe, Russia and Vietnam.

    According to the WSJ, U.S. 섯다 steel imports, which imposed a 25 percent tariff on steel over the past month, fell more than 13 percent from the same period last year, while European steel imports grew at a record level of more than 10 percent.

    Major steel exporters have targeted European areas to avoid the U.S. which set high tariff barriers.

    Turkey exported 61 percent more steel to the European Union from the same period last year, becoming the largest steel exporter to the EU. In particular, the value of the currency of Lira in Turkey dropped 28 percent this year, adding to its competitive price.*

    During the same period, Russia increased its steel exports to the EU by 40 percent and Vietnam by 144 percent.*

    Accordingly, prices of major European benchmark steel have fallen 11.5 percent since mid-February, just before Trump considers imposing tariffs on imported steel.*

    On the other hand, the price of major benchmark steel in the U.S. rose 4.2 percent during the same period and more than 21 percent since the beginning of the year when major buyers began predicting tariffs on steel.

    EU steel production in the region fell 0.4 percent during the first 10 months of this year, while the United States grew more than 5 percent, according to Citigroup. Global steel production excluding China increased 4.7%.*

    The U.K.'s Original Steel Service has supplied 3,000 to 4,000 tons of steel to certain customers in recent years, but this year's supply has reached about 400 tons due to cheaper foreign steel products.

    The European Union set up an import quota in July as a temporary measure against a U.S. steel tariff bomb, but failed to prevent regional damage. The EU will reportedly decide whether to keep the quota or take other new measures early next year.

  2. #2
    Buckeye Nation
    Join Date
    Jun 2009
    15 (100%)
    Oh boy

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