Canada to decide the future of its provisional steel tariffs
Tuesday, 29 January 2019
Like many other key markets, steel imports have also been facing some tough times in Canada. There are provisional customs duties on the following CRC HS codes payable from on or after 23rd August 2018. 7209.15.00.00 7209.16.00.00 7209.17.00.00 7209.18.00.00 7209.25.00.00 7209.26.00.00 7209.27.00.00 7209.28.00.00 7209.90.00.00 7211.23.00.00 7211.29.00.00 7211.90.00.00 7225.50.00.00 These duties are imposed by the Canada Border
- Published in Steel
EU prepares to retaliate to potential US auto tariffs
Monday, 28 January 2019
The EU is ready to retaliate if the US impose 25% tariffs on auto imports from Europe. The countermeasures could affect $294 billion US exports to Europe. The US administration has been investigating imports from various countries. It imposed 30%-50% tariffs on solar panels and white goods in January 2018. Later in March, the administration
- Published in Steel
India to impose import duties on steel
Friday, 21 September 2018
India contemplates increasing duty on steel imports to improve its trade balance and support the rupee. The government proposes import duties on certain types of steel up to 15% from the current range of 5-12.5%. Apart from reducing the trade deficit and stabilising its currency, the safeguard measures would also protect domestic steel producers. Indian
- Published in Steel
Global Steel Slab Market Outlook
Thursday, 16 August 2018
The reinstatement of the US sanctions is going to affect Iranian slab exports substantially. Consequently, the CIS producers, primarily Russian, will have a chance to regain market share in Europe and Asia. However, we expect that slab suppliers in Indonesia, Malaysia and Vietnam, which are relatively new and have excess supply than Japanese, would become
- Published in Steel
The US doubles its tariffs on Turkish steel and aluminium products
Friday, 10 August 2018
Mr Trump has authorised to double tariffs on Turkish steel and aluminium exports to the US. The tariffs on aluminium are now increased from 10% to 20%, while it increased from 25% to 50% for steel. The announcement severely impacted the Turkish lira which has already been in turmoil. The currency has now plunged to
- Published in Steel
Implications of the US sanctions on the Iranian steel industry
Friday, 10 August 2018
On 6th July 2018, the US re-imposed the sanctions on Iran that have been suspended under the Joint Comprehensive Plan of Action (JCPOA) in 2015 known as Iran Nuclear Deal. The other countries that were part of the agreement are remaining committed to the deal. European countries especially the UK, Germany and France are showing
- Published in Steel
The US-China trade war will affect the autonomous vehicle industry
Friday, 10 August 2018
Trade tensions between the US and China are on the peak. The Trump administration is imposing more and more duties on Chinese materials to protect its industries from China’s unfair trade. However, despite the protectionist measures, the US may put on risks its industries mainly by increasing production costs. Initially, the tariffs were imposed on
- Published in Automotive