Japan's steel industry urges Trump to make careful trade decision

Trump has cut taxes and regulations.

I'd be happy if he were no longer in power. His trade ideas are backwards and will not help MAGA.

Am retired now, but I remember trying to do fabrication with some really cheap Asian imported steel. It had been made from scrap metal, and it was obvious that the scrap had not been fully melted, since we could still see what the stock had been made from........bolts and such, not fully melted. Useless for fabrication, so the company had basically wasted their money.

There is also the problem that steel from India has been found to be contaminated with high levels of radioactivity. Apparently they sometimes get rid of their contaminated steel by recycling it in the scrap bin, instead of treating it like dangerous radioactive waste.

http://www.spiegel.de/international/world/contaminated-imports-finds-of-radioactive-steel-on-the-rise-in-germany-a-607840.html

Some European nations have refused to accept contaminated steel from India. Since the US does not have the high level of inspection that Northern Europe has, I can't help but wonder how much radioactive waste we here have been unnecessarily exposed to.

Also, I too got accidentally poisoned with arsenic. Not an enjoyable experience.

@zichi - you sound like an old Timer. Hope you're enjoying Life now!

according to Japan a "careful trade decision" means import Japanese stuff but don't expect even close to the same being reciprocated.

It's impossible to write or say 'Trump' and 'careful' in the same sentence.

China uses third-party nations as shipping ports in an attempt to hide their steel and aluminum dumping. Therefore instead of playing the never ending game of whack-a-mole, Secretary Ross is taking the approach to identify “global” steel and aluminum imports.

Secretary Ross mentioned during a question and answer at Davos that China produced in just one month all the Steel our country could use in one year. His point was their business/production model doesn’t have a bank/loan involved to answer to when they saturate the market. That the Chinese and the other countries model is one of employment and market share, not based on principles including supply and demand.

CANADA 2017 ALUMINUM and STEEL EXPORTS to USA.: Aluminum: $8.5 billion – Iron and steel: $5.5 billion.

This. It’s a prime example of how NAFTA abuse results in Canada and Mexico triangulating with outside countries such as China, Japan, South Korean, and others ultimately import to the USA. Global or Targeted tariffs won’t work until the NAFTA issue is cleaned up.

With the “infrastructure program/push” now coming online….a possible adjustment should be considered for Rebar and Mesh…say 30% “less” than other products when calculating final levels….maybe “discounted” for only a short period of time, like 4 years or so??

OR, some how tied directly to those “projects” which qualify for such Federal fundingie: a special exemption for specific types/amounts of construction/infrastructure products – without any “resale/surplus disposal” allowed within the USA… (dump it on Mexico or Canada, eh?)…

This is lower value/spec steel – usually required in “tons” for over-passes, bridges, roads/docks, etc. Another cry/whale/teeth narshing will be heard from the Boeing Co….ie: most likely the biggest user of Aluminum alloys in the USA (spec alloy – not soft grades)….

This will become a monster pressure project by K street and US-CofC sooner…as such a “hump” in price will cost them “millions of USD” per AIRFRAME sold…some/most of which are under fixed contracts, etc.. They hedge such price humps, but even that may not hold them harmless in the final wash.

Leaning towards the “universal” import duty – adjusted for alloy/spec if possible…. AND, any change should be left in place long enough for the adjustment and possible expansion of USA share to be reflected all the way back to the dock… There are “some” stockpiles here now that would have to be worked thru, under some kind of LIFO control too. A nationwide inventory would be a good place to start!