This Morning in Metals: Chinese City Prepares Steel Output Cuts
This morning in metals news, a Chinese city in Jiangsu province plans to enforce steel and chemical output cuts, U.S. companies requesting exclusions from the Section 232 steel tariff are feeling the heat and countries around the world are meeting to discuss a potential response should the U.S. impose automotive tariffs.
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Changzhou to Join Anti-Pollution Efforts
The Chinese city of Changzhou will impose curbs on steel and chemical output, Reuters reported, part of the country’s ongoing anti-pollution efforts.
According to the report, the city’s draft plan calls for 50% output curbs for steel mills and copper smelters, among other facilities, by Aug. 3 at the latest.
U.S. Companies Feel the Heat
U.S. companies have been able to apply for exclusion requests with respect to the Trump administration’s steel tariff, using the argument that they can’t get enough of the product domestically (or at a suitable quality level).
However, according to an AP report, companies seeking exclusions are facing criticism and opposition in the exclusion process from domestic steel producers.
Nations Prepare to Go on Defense With Respect to Potential U.S. Auto Duties
In May, the U.S. launched a Section 232 investigation of imports of automobiles and automotive imports.
As such, countries who could feel the effect of automotive duties are preparing a response, should the duties come to pass.
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According to Reuters, representatives from the E.U., Japan, Canada and Mexico will meet to consider a response to the potential U.S. automotive tariffs. The meeting is scheduled for Tuesday, July 31, in Geneva, according to the report.
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