USA will double the Tariff rate About him steel Foreign from 25% to 50%, as confirmed by its president Donald Trumpthrough an ad at the Mon Valley Works -Steel Mon Valley
This measure that represents a 100% tariff increase could further raise the prices of a metal used to manufacture homes, cars and other goods.
Trump also during his visit to Pennsylvania, announced investments of the Japanese company Nippon Steel.
The price of steel products has increased approximately 16% since Trump assumed the presidency, according to the Producer Price Index prepared by the Government.
In addition, the US president informed US Steel workers that his company will continue to be an American while they are preparing to authorize the sale to Nippon Steel.
Republican sources indicated that Trump will establish a gold action For the United States to maintain control, but it is not known what powers will grant. Trump had said in the campaign that he would not allow the sale of the company to Nippon Steel.
What could happen in Argentina with the rise of tariffs to steel
The rise of foreign steel tariffs by the US negatively impacts Argentine exports to that countrygenerating concern in the local industry.
Argentina exports approximately 180,000 tons of United States steel products per year. Also, 150,000 tons of oil tubes were exported to the same destination. In particular, “an Argentine company exports more than 50% of the steel to the United States and almost 90% of its production.”
As for the aluminum, According to aluminium import monitoring of the International Trade Administration of the United States, in January of this year, last month for which it reports data, Argentina placed 15,025 tons of aluminum, 2.5% of the total of the 514,205 tons that imported the US.
Source: Ambito
