Articles in Category: Global Trade

Dmitry/Adobe Stock

Editor’s Note: MetalMiner has recently partnered with Raistone Capital to help manufacturing organizations claim and quickly obtain access to cash refunds for Section 301 tariffs paid on products that are on the exclusion list. Tariff refunds help buying organizations add actual dollars to their bottom line. 

Tariff exclusions are published in the Federal Register (there is also a search portal). You can also search through the lists with your HTS code: 

Read more

Ricochet64/Adobe Stock

This morning in metals news, the U.S. plans to appeal a World Trade Organization (WTO) compliance panel ruling related to its steel dispute with India, China’s crude steel production again hit a record high in 2019 and General Motors announced plans to invest $40 million at its Spring Hill Global Propulsion Systems plant in Tennessee.

Looking for metal price forecasting and data analysis in one easy-to-use platform? Inquire about MetalMiner Insights today!

U.S. will appeal WTO compliance panel ruling

In its ongoing dispute with India over its tariffs on Indian hot-rolled carbon steel, the U.S. plans to appeal a WTO compliance panel ruling.

Read more

The successor to the 1994 North American Free Trade Agreement, dubbed the United States-Mexico-Canada Agreement (USMCA), has now made its way through both chambers of the U.S. Congress.

Looking for metal price forecasting and data analysis in one easy-to-use platform? Inquire about MetalMiner Insights today!

In December, the White House and House Democrats reached a deal over revisions to the USMCA, yielding an overwhelmingly bipartisan 385-41 vote Dec. 19 that sent the deal over to the Senate.

On Thursday, the Senate voted 89-10 to approve the USMCA via the United States-Mexico-Canada Agreement Implementation Act. Sen. Pat Toomey was the only dissenting Republican vote.

Read more

The escalation in U.S.-China trade relations appeared to take a brief pause Wednesday when U.S. President Donald Trump and Chinese Vice Premier Liu He signed what has been billed as a “Phase One” trade agreement between the world’s two largest economies.

“Today we take a momentous step, one that has never been taken before with China, toward a future of fair and reciprocal trade as we sign Phase One of the historic trade deal between the United States and China,” Trump said in opening remarks during the signing ceremony Wednesday, adding the deal would begin to “right the wrongs of the past.”

Keep up to date on everything going on in the world of trade and tariffs via MetalMiner’s Trade Resource Center.

Over the past two years, following the launch of a Section 301 investigation in August 2017, the U.S. has imposed a total of approximately $370 billion in tariffs on Chinese goods, with China responding with tariffs of its own at each step of the way amounting to $110 billion.

Read more

byrdyak/Adobe Stock

The January 2020 Monthly Metals Index (MMI) report is in the books, including coverage of rising steel prices, U.S. automotive sales, construction spending and much more.

This month, all 10 of the MMIs increased.

The GOES, Rare Earths and Global Precious MMIs were the biggest risers, surging by 19.1%, 5.3% and 4.5%, respectively.

Keep up to date on everything going on in the world of trade and tariffs via MetalMiner’s Trade Resource Center.

Some highlights from this month’s MMIs:

  • U.S. steel prices made gains across the board during the first half of December.
  • Copper prices made gains but were capped somewhat by concerns over demand.
  • U.S. automotive sales were forecast to fall 1.7% in 2019 compared with the previous year.
  • U.S. construction spending in November picked up 4.1% on a year-over-year basis.

Read about all of the above and much more by downloading the January 2020 MMI Report below:

Destina/Adobe Stock

This morning in metals news, the U.S. and China will ink the previously agreed “phase one” trade deal today, the United States-Mexico-Canada Agreement (USMCA) is expected to be up for a vote in the U.S. Senate soon and China’s steel mills may be looking away from higher-grade iron ores.

Looking for metal price forecasting and data analysis in one easy-to-use platform? Inquire about MetalMiner Insights today!

U.S., China to sign preliminary trade deal

After many turbulent months that saw an escalation of trade tensions, the U.S. and China are finally set to sign a so-called “phase one” trade deal today that, while it doesn’t mark an end to the trade war, at least constitutes a de-escalation.

Read more

buhanovskiy/AdobeStock

This morning in metals news, the U.S. steel sector’s capacity utilization rate reached 82.1% as of Jan. 11, Pilbara Ports Authority throughput in December 2019 rose 2% and the U.S. removed the label of currency manipulator it had imposed on China last year.

Looking for metal price forecasting and data analysis in one easy-to-use platform? Inquire about MetalMiner Insights today!

U.S. steel capacity utilization rate hits 82.1%

According to the American Iron and Steel Institute (AISI), the U.S. steel industry’s capacity utilization rate for the year through Jan. 11 reached 82.1%.

During the period, mills produced a total of 3.01 million tons, which marked a 2.3% year-over-year increase (last year during the same period, the capacity utilization rate was 80.4%).

Read more

aldorado/Adobe Stock

Following from the long-running case recently won by the U.S. over whether the European Union (E.U.) provided Airbus with subsidies, on Dec. 2 the World Trade Organization (WTO) rejected the E.U.’s claim that subsidies were no longer provided to Airbus.

Looking for metal price forecasting and data analysis in one easy-to-use platform? Inquire about MetalMiner Insights today!

This ruling gave the U.S. scope to execute an additional Review of New Tariffs on E.U. imports.

On Dec. 12, the U.S. Trade Representative (USTR) issued a notice additional products may see tariff rates of up to 100%, as listed in Annex II, posted at Regulations.gov.

This annex includes only products not currently affected by Airbus-related Section 301 tariffs issued during late 2019.

Read more

Steven Husk/Adobe Stock

Before we head into the weekend, let’s take a look back at the week that was and some of the metals coverage here on MetalMiner, including: a natural gas transit deal between Russia and Ukraine; aluminum prices; the impact of escalating U.S.-Iran tensions on oil prices; and the copper demand picture.

Looking for metal price forecasting and data analysis in one easy-to-use platform? Inquire about MetalMiner Insights today!

Keep up to date on everything going on in the world of trade and tariffs via MetalMiner’s Trade Resource Center.

hakinmhan/Adobe Stock

This morning in metals news, European Commission President Ursula von der Leyen said a trade deal with the U.K. will be “impossible” by the end of the year, the Chilean government won’t offer funds to help copper producer Codelco make needed upgrades and state regulators in Indiana say ArcelorMittal has been manipulating test results on the heels of a toxic spill last year.

Looking for metal price forecasting and data analysis in one easy-to-use platform? Inquire about MetalMiner Insights today!

U.K., Europe talk trade as Brexit approaches

With the U.K. set to exit the E.U. at the end of January, attention is moving to what happens next — particularly with respect to trade.

Read more