The United States Started Trading War of Steel, Many Country More Than China Suffer Disaster
After starting levying the anti-dumping duties to almost all varieties of steel in China, the United States began to target at other countries, expanded the restrictions of steel import. Trade cases aiming at so many countries exactly are the auxiliary of "America first" policy that carried out after Trump taking office.
Recently, a number of steel mills in the United States jointly requested anti-dumping investigations on carbon and alloy steel rods imported from 10 countries including Belarus, Italy, Korea, Russia, South Africa, Spain, Turkey, Ukraine, the United Arab Emirates and the United Kingdom, and asked for levying anti-dumping duties. Steel mills said that, since 2014, the imports of the carbon and alloy wire rod that the United States imports from 10 countries increased significantly, which caused damage to US companies. Steel mills accused Belarus dumping margins 179.07% -304.94%, Italy 26.36%, South Korea 41.72% -53.09%, Russia 216.50% -821.40%, South Africa 159.35% -164.08%, Spain 32.64%, Turkey 45.10%, Ukraine 21.64% -61.64 %, UAE 69.57%, UK 88.25%. At the same time Gail Road North American Steel Company, Nucor Corporation, etc. required proceeding countervailing investigation steel wire rod that from Italy and Turkey imported. Charge showed that two governments had loans, tax incentives and other subsidies for the wire rod export enterprises .
After Trump taking office, American government adopted extreme trade protectionism, especially the discussion of Sino-US trade war was intensified. The United States has recently announced a number of cases adjudication of trade remedy involving Chinese products, such as carbon and alloy steel and stainless steel strip, and the final rate of stainless steel strip was higher than the preliminary tax rate. That might indicate that the US Department of Commerce investigators was affected by the attitude of highly protecting the steel industry of the newly appointed president and the Minister of Commerce.
Trade war is not the effective prescription to further promote the growth of US economic and the employment of the recipe. What kind of impacts that the "America first" policy pursued by Trump will have on Sino-US economic and trade relations and the world economy will attract more and more attention.