This Morning in Metals: Lone Bosnian Aluminum Smelter Closes
This morning in metals news, Bosnia’s only aluminum smelter is closing, President Donald Trump comments on U.S.-China trade talks and the United States Trade Representative (USTR) is pursuing competition-related concerns with respect to the U.S.-Korea Free Trade Agreement (KORUS).
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Bosnian Aluminum Smelter to File for Bankruptcy
The only aluminum smelter in Bosnia is closing, Reuters reported.
According to the report, the closure could impact a total of 10,000 jobs.
Trump Criticizes China on Agriculture
With U.S.-China trade talks underway again this week, Trump commented on Twitter this morning on the proceedings to say China is “letting us down” with respect to promises to purchase U.S. agricultural goods.
Trump and Chinese President Xi Jinping recently met during the G20 Summit in Japan, on the heels of the two countries’ trading of tariffs during a rocky May.
USTR to Voices Competition Concerns in KORUS
The USTR announced this week it is looking into “competition-related concerns” related to KORUS, the U.S.’s free trade agreement with South Korea.
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“The United States is calling for actions by Korea to improve procedures in competition hearings held by the Korea Fair Trade Commission (KFTC),” the USTR said in a release. “These shortcomings have denied U.S. parties certain rights, including the opportunity to review and rebut the evidence against them.”
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