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Steel Tariff Regime May Need Retargeting as Se AH’s Long Products Surge

China 2901 Materials - Metals/Mining 709 Metals - Steel 481 South Korea 548 Tariffs 1768 U.S. 5203

The G20’s Global Forum on Steel Excess Capacity may be about to hold its last meeting, with global steel protectionism having actually increased since its formation in 2016. Oversupply – combined with weakening industrial demand – has driven down U.S. steel prices despite the imposition of section 232 tariffs by the Trump administration. The price decline may be about to change with Nucor CEO John Ferriola stating “that in many of our products that pricing has bottomed”. So far the one-size-fits-all tariffs of the section 232 program have succeeded in cutting imports. U.S imports of stee...

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