China has less at stake in U.S. steel trade war than Canada, Mexico

[thackney]

China has less at stake in U.S. steel trade war than Canada, Mexico
https://www.chron.com/business/energy/article/China-has-less-at-stake-in-U-S-steel-trade-war-12722672.php
March 2, 2018

...The Trump Administration on Thursday said it would impose a 25 percent tariff on steel that the nation imports, a bid to protect the U.S. steel industry from overseas competition.

But the United States accounts for only 1.4 percent of China's steel exports of almost 83 million tons. And the United States only buys 2.9 percent of its $33.6 billion imported steel from China.

But the United States imports about half of its steel from Canada, Mexico and Brazil....

[thackney]

Trump steel tariffs to hit these 8 countries the hardest — and China isn’t one of them
https://www.marketwatch.com/story/trump-steel-tariffs-to-hit-these-8-countries-the-hardest-china-is-not-one-of-them-2018-03-01#false
Mar 3, 2018

...The White House said the tariffs are needed to ensure a domestic supply of a material vital to national defense, but the real goal is to protect American workers from cheap foreign steel it claims is unfairly subsidized. A Commerce Department report pointed to several mill closures in the past few years and the loss of several thousand jobs.

The U.S. already imports four times as much steel as it exports, and imports are on the rise again. While the U.S. imports steel from more than 100 countries, three-quarters come from just eight countries, according to the International Trade Organization.

The top supplier to the U.S. in 2017 was Canada, followed by Brazil, South Korea, Mexico and Russia. Other notables include Turkey, Japan and Taiwan....

[thackney]

Key U.S. lawmaker urges steel tariff exemptions for NAFTA allies
https://www.reuters.com/article/us-trade-nafta-steel/key-u-s-lawmaker-urges-steel-tariff-exemptions-for-nafta-allies-idUSKBN1GG0RG
MARCH 4, 2018

An influential U.S. lawmaker said on Sunday all fairly traded steel and aluminum, especially from Canada and Mexico, should be excluded from President Donald Trump’s proposed tariffs, as he sought to calm tensions at major trade talks in Mexico.

Kevin Brady, chairman of the U.S. House of Representatives Ways and Means Committee, which has jurisdiction over U.S. trade policy, was speaking on the sidelines of the latest round of NAFTA talks among the United States, Canada and Mexico, where he said there had been progress in reworking the 24-year-old trade deal.

The prospect of a trade war being sparked by the imposition of Trump’s proposed tariffs rattled financial markets last week.

Canada and Mexico have threatened retaliation, and the European Union said it would apply 25 percent tariffs on about $3.5 billion of imports from the United States if Trump carried out his plan.....