WTO

What do record steel and aluminum imports have in common? China, Korea, India and other countries’ governments essentially shun economics and unfairly subsidize these industries in myriad ways, creating a huge oversupply bubble.

Of course, taking recourse through the International Trade Commission (ITC), US Commerce Department and the World Trade Organization (WTO) to impose stricter duties and tariffs is the main way for US companies to say “We Mean Business.” But even then, it’s not a sure thing; especially since China and others will continue to over-produce as they’re incentivized to do, harming global prices. Not only that, but Commerce/ITC/WTO case determinations take months, and the latest verdicts aren’t due until later this summer – at the earliest.

So what are steel and aluminum purchasing organizations to do?

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The World Trade Organization has ruled against China and its export restrictions on rare minerals, saying Beijing had for years used trade policy to control key markets for strategic commodities and encourage manufacturers to move their operations to China. Of course, China will appeal, so the status quo will remain for the time being, but speculation is already growing that an increase in exports could depress global prices for rare earths further, possibly making some of the start-ups unviable and certainly deterring new mining ventures currently on the drawing board.

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Once again, Indian steel manufacturers, especially those into making steel pipes, are in the news vis-a-vis the US Department of Commerce. A few days ago, the Commerce Department, according to reports, decided to set tariffs on the imports of steel pipes from four nations — India, Vietnam, Oman and the United Arab Emirates. The step […]

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What happens when the majority of the world’s trade-driving regions encounter economic crises? Short answer: current and future-forecast global trade grinds to a halt. Although the grinding and the halting is not as pronounced as it was in the dark days after the 2008 economic crash, the dominoes of economic slowdown are falling one after […]

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When I received my daily press alert for goings-on within the World Trade Organization (WTO), I almost chuckled. Turns out that both the US and China — apparently coincidentally — levied cases against each other before the WTO at virtually the same time. In the first, the US accused China of unfairly subsidizing its automobile […]

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A bill (HR 4402) that would streamline the process of bringing US mineral reserves to market passed the House of Representatives last week. China’s announced moves to stockpile rare earth metals highlight the need for the US to identify alternative means of sourcing a broad spectrum of metals deemed both critical and strategic to national […]

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As the available market for all kinds of products becomes more global, less confined to the once dominant markets of North America and Europe, and as corporations’ fortunes rest on their ability to compete across those global markets rather than just the US or Europe (historically seen as enough to ensure a prosperous future), are […]

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The trade war between India and the United States intensified further as New Delhi has approached the World Trade Organization (WTO) against the US for imposing import duties on certain Indian steel products, reports Business Line. According to a posting on the WTO’s website on April 12, India requested consultations with the US under the dispute settlement […]

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We all know a thing or two about news that’s not really news (or, to put it more accurately, news that’s overblown) — and this phenomenon seems to happen in the realm of rare earth metals more than anywhere else. Reporting on rare earth metals is such a hot commodity in and of itself that […]

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