Quote (balrog66 @ Jun 1 2018 03:02am)
Definitely horse hockey, at least when this is talking about the EU. The EU has huge steel producers in Tata Steel, Arcelor Mittal, etc. We're the largest producer after China (to be fair, they produce more, but our industry tends to be more specialized). China produces lots of hot rolled cheap carbon steel. The EU has the technology for lots of different alloys, many who currently cannot be produced in the US.
If this is supposed to target the countries who just push through Chinese steel, it shouldn't be targeting the EU.
http://www.businessinsider.com/uk-steel-industry-failure-eu-state-aid-rules-imports-exports-prices-2016-3?r=UK&IR=Tyeah well the EU has been happy to bone the domestic production it does have. They just don't value it outside Germany and in Britain, well it helped cause Brexit. They bled so many jobs in the UK before Brexit- 38% of the entire domestic industry production in a single year- that they slammed on the brakes and finally put their own tariff on the chinese steel, but still a fraction of the US tariff and reduced chinese imports by 41% compared to the US's... uh, 100%. The EU might be 2nd biggest producer after China, but we're talking 50% of world production from 1 country vs 10% across 28 countries, albeit mostly germany. But having years of chinese dumping into europe with a peak 30% of steel being imports in 2015 and halved since then, it was still enough to tank the EU's steel market prices. Same story with Canada.
The US domestic industry makes no secret it wants to be protected from the prices that tanked worldwide from chinese dumping, and the EU and Canada are both markets that got roiled by that dumping. If the US could be competitive with them, they wouldn't want or need a tariff