This morning in metals news, aluminum producers in the Middle East say any Section 232 measures implemented by the U.S. will ultimately only impact the American consumer, U.S. steel production was down last week and the next round of North American Free Trade Agreement (NAFTA) talks will start a little earlier than previously announced.
The Impacts of Section 232? Will Only Hurt U.S. Consumers, Middle East Producers Say
Should the U.S. impose duties on aluminum imports — thus concluding its Section 232 investigation — U.S. consumers will be the only ones impacted, according to Middle East aluminum producers.
As reported by Platts, Middle East aluminum producers, meeting at the Arabal 2017 conference in Muscat, Oman, questioned the impact of trade remedies stemming from Section 232.
Tim Murray, CEO of Aluminium Bahrain, said that any measures will “ultimately be a tax on consumers.”
U.S. Raw Steel Production Drops 1.4%
Raw steel production in the U.S. dropped 1.4% for the week ending Nov. 4, with a total of 1,715,000 net tons (NT) produced, according to American Iron and Steel Institute (AISI) data.
Adjusted year-to-date production through Nov. 4 was 76,474,000 net tons, which is up 3.9% from the 73,583,000 net tons during the same period last year.
NAFTA Talks Moved Up
With a fifth round of NAFTA renegotiation talks scheduled for Nov. 17-21 In Mexico City, some aspects of the discussions will actually begin a little bit early.
According to a Reuters report, talks on some issues will kick off Nov. 15.
Textiles, services, labor and intellectual property are among the subjects that could be discussed during the early meetings, according to one official quoted by Reuters.