Trump's Take On Steel
Trump's Take On Steel: Here's What It Means To Global Trade 。The real issue is how will the US steel industry be protected by the Trump Administration. It is already a highly protected sector and the price of steel is higher in the US as compared to world prices. There are two general approaches. The first is a board tariff on all imports. The second is a combination of a quota and a tariff on imports about the threshold. The former is recognized as a tougher than the latter, with more collateral damage. Judging from the rhetoric, China is the significant target. However, China accounts for around 2% of US steel imports and these imports have fallen for two years. Part of the reason for the decline in steel imports from China is that it has been subject to around 200 anti-dumping and countervailing measures that remain in place. More broadly, US steel imports have fallen for two years. Last year the US imported 30.1 mln metric tons, down from a near-record in 2014 of 40.3 mln metric tons. Steel imports account for around 1% of total US goods imports.