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Posco, Thyssenkrupp may be preparing for an elusive tariff cut

Brazil 361 Canada 454 China 2781 European Union 723 Materials - Metals/Mining 676 Metals - Aluminum 214 Metals - Steel 462 South Korea 531 Tariffs 1722 U.S. 4956

U.S. section 232 import duties, applied for national security reasons, have “helped save American jobs in steel and aluminum industries” according to U.S. Commerce Secretary Gina Raimondo. There will continue to be “a place for tariffs” going forward, even though that likely will continue to cause frictions with allies including the EU, Japan and South Korea. The tariffs have not yet succeeded in their primary aim of pushing steel capacity utilization in the U.S. over 80%. As of February 2021 the utilization rate was still just 75.8%. The tariffs have succeeded, however, in cutting impor...

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