Steel Tariffs Do Their Job, But Wider Use and Timing Limited by Law

Cons. Discr. - Autos 954 Materials - Metals/Mining 635 Metals - Steel 438 Sanctions 114 Tariffs 1648 Turkey 52 U.S. 4633

The U.S. Court of International Trade has ruled that the Trump administration erred in using increased section 232 steel duties in a dispute with Turkey in August 2018. That may have a knock-on effect to both uses of the section 232 mechanism in future dealings with Turkey, as well as the timing of section 232 duties in the automotive sector. U.S. seaborne imports of steel products from Turkey fell by 86.6% in the three months to Oct. 31 compared to the same period of 2017. Those were led by shipments linked to Borusan Mannesmann which fell by 81.1% over the same period.

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