This morning in metals news, Japan is opting for a “low-key” approach in its efforts to win Section 232 tariff exemptions, Ukraine’s steel production dropped 3% in the first quarter and Turkey sent a letter to the U.S. lobbying for tariff exemptions of its own.
Japan Confident in Section 232 Response
In a time of escalating trade tensions and threats of retaliatory efforts, Japan’s approach to responding to the U.S.’s Section 232 aluminum and steel tariffs is notable.
The Financial Times reported that Japan’s approach is an indicator of the country’s confidence in its ability to secure product-by-product exemptions. So far, Canada, Mexico, the E.U., Argentina, Brazil, Australia and South Korea have secured exemptions (whether temporary or permanent).
Ukraine Steel Production Falls 3%
Ukraine’s steel output in the first quarter fell 3% year over year, Reuters reported.
According to the Ukrainian steel producers union, poor rail networks and lost production capacity since pro-Russian separatists took over parts of the eastern portion of the country have led to the decline.
Turkey Lobbies for Tariffs Exemptions
Turkey has sent a letter to U.S. Secretary of Commerce Wilbur Ross outlining its request to receive exemptions from the Section 232 tariffs.