25 Mar U.S. Steel. Click to keep reading…
While steel tonnage import volumes are slowing, due to President Trump’s hefty tariffs, U.S. steelmakers have moved into a stronger position in the glutted global steel market. This strategy may backfire, as U.S. steel prices rise well above the price of imported steel. The premium pricing demanded by domestic producers will result in imports gaining a larger share of steel consumption.
Even as the trade war with China may wind down soon, trade conflicts are emerging with Japan and the European Union. Trade talks with the U.K. are suspended until they sort out their post-Brexit status,
NAFTA (the North American Free Trade Agreement) will most likely be renewed later in 2019, as about 11 million jobs depend on the current agreement.