Sunday, April 15, 2018

Steel

When Trump announced the US will tax steel imports from China many suggested this would cause a trade war. What was not mentioned was that this also happened in 2016 under Obama Prior to this announcement, the U.S. had already implemented trade taxes on different types of imported steel from China. In 2016, the Obama administration imposed duties on some Chinese steel imports by more than 500 percent, causing Chinese imports to the U.S. to drop by almost two-thirds. It was also pointed out that the US only imports about a small percentage of its steel from China but what was not mentioned is that China sells a lot of steel to Mexico and that is used in cars produced in Mexico and shipped to the US.

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