Donald Trump has actually made SeineDrohung true: on Thursday he issued import duties on steel and aluminium. It is clear that y are mainly directed against China. During signing ceremony in White House he Zwarschluged in conciliatory tones. " We are in midst of great negotiations, "said US president, speaking of" great respect "to China's President Xi Jinping. But he also stressed that result was open.
And China? NOCHBLEIBT leadership demonstratively left. The government at Freitagvon said that it was a "serious attack on international trade Order". In EinerStellungnahme, Chinese Department of Commerce spoke of "effective measures" to help China defend its legitimate rights and interests. But Beijing has not yet become more concrete – unlike European Trade Commission, which has been preparing countermeasures for months.
Beijing feels barely affectedFrom Trump's großemprotektionistischen all-round strike, Beijing feels barely hit. Of Deninsgesamt 35.6 million tonnes of steel imported by United States last year, only 2.9 per cent of People's Republic. The largest steel suppliers in United States are Canada, Brazil and South Korea. Germany ranks eighth in number with a share of 3.7 percent, China Dagegensogar only tenth. "The imposed punitive duties are allenfallseine irritation for China," says economist Arthur Kroeber from GavekalDragonomics Consulting Institute in Beijing.
USA-Trump adopts import duties despite worldwide criticism, US President Donald Trump has decreed controversial import duties for steel and aluminium. Canada and Mexico have been exempted. Or countries could follow. © Photo: Susan Walsh/APDespite this, global resentment has been great on China for years. China has been by far largest steel producer in world for years. Only Hebei, UmliegendeProvinz of Beijing, manufactures more steel than North America and Europe toger. DieBasis for se huge production capacities was laid during Weltfinanzkrisevon 2008. In relation to economic performance, China set world's largest stimulus package with around 460Milliarden euros. Beijing thus protected not only its own country from crisis, but Stabilisiertedie global economy as a whole.
70 percent of overcapacity from ChinaFor DieStahlbranche, however, state aid was too much of a good. China's Produktionweitete is getting more and more out. In 2016, People's Republic produced over 800Millionen tons of crude steel – more than rest of world combined. Around 70Prozent of existing overcapacity went back to China.
China Überschwemmtseitdem The global Steel market – and of course it also gets AmerikasStahlindustrie. Since year 2000mussten, ten large steelworks have been closing in United States. Around Jederdritte steel workers have lost ir jobs in past 20 years – technological progress, but also because American steel was no longer wettbewerbsfähig. In past year alone, according to US Steel Workers ' Union, AmerikanischeStahlproduzenten have cancelled some 9,000 jobs.
But what Tungegen all cheap steel? The EU is trying to impose tariffs, in 2016 Verhängtesie for example on hot-rolled steel from China punitive tariffs of 36 percent, heavy-duty from Far East even 74 percent. As a result, or Staatenwie Brazil and Russia are now delivering steel to Europe. And China shipped EinenGroßteil of its surpluses to Canada, most important steel supplier for USA, as well as to South Korea. If Trump now grants Canada an exception in customs decision, Amene will land Chinese steel in US, only via Canada.
Date Of Update: 10 March 2018, 12:03
