Markets

Trump restores metal tariffs on Brazil and Argentina in surprise move

President Donald Trump announced early Monday the US would restore punitive tariffs on steel and aluminium from Brazil and Argentina. He accused the South American nations of unfairly wielding their currencies against the US. The surprise move threatened to open a new front in a global trade dispute that has […]
Trump restores metal tariffs on Brazil and Argentina in surprise move
News

Government watchdog warns that Trump administration’s tariff exclusion process appears tainted by ‘improper influence’

An internal government watchdog faulted the Department of Commerce for its lack of transparency on the Trump administration’s tariff exemption process, saying it raises the appearance of “improper influence” in the agency’s decision-making. In a memo published Wednesday, the Commerce Department’s Office of the Inspector General said it found evidence […]
Government watchdog warns that Trump administration’s tariff exclusion process appears tainted by ‘improper influence’
News

A top Republican senator says Democratic ‘resistance’ means there’s no path forward for Trump’s new trade deal with Mexico and Canada

Republican Sen. Pat Toomey suggested President Trump’s new trade agreement with Canada and Mexico does not have any path forward in the new Congress. Toomey said there is too much Democratic “resistance” to the plan, despite “concessions” made by the White House. Trump has repeatedly threatened to withdraw from NAFTA, […]
A top Republican senator says Democratic ‘resistance’ means there’s no path forward for Trump’s new trade deal with Mexico and Canada
Markets

China still accounts for more than half of global steel production

If there was any doubt as to which nation is the largest steel producer globally, this chart is definitive in its answer. It comes from the Commonwealth Bank. China accounted for 51% of total global crude steel production in the year to August, according to the World Steel Association. In […]
China still accounts for more than half of global steel production
Markets

China’s plan to support its steel sector is working — here’s why

China’s government has been cutting steel production capacity across the nation since 2016, aimed to improve profitability and environmental standards across the sector. The plan has worked with profitability levels improving sharply, allowing steel producers to move towards using higher quality, more environmentally friendly, bulk commodity grades. The Commonwealth Bank […]
China’s plan to support its steel sector is working — here’s why
Markets

Steel stocks are getting whacked on optimism for US-EU trade

Steel stocks were down early Thursday. In an Oval Office meeting Wednesday, President Donald Trump and the European Commission President Jean-Claude Juncker agreed to work toward “zero” tariffs. Prices of steel have been buoyed by a 25% tariff on the metal. Steel stocks fell Thursday after President Donald Trump suggested […]
Steel stocks are getting whacked on optimism for US-EU trade