FLASH: Biden calls for higher tariffs on Chinese steel, aluminum

The US president Joe Biden called on his administration to consider tripling the existing 7.5% tariff rates on Chinese steel and aluminum products during a campaign event at the United Steelworkers headquarters in Pittsburgh, Pennsylvania on April 17.

Chinese steelmakers are dumping extra steel products into the global market at unfairly low prices, and being heavily subsidized by the government allows them to operate without concern for profitability, Biden stated.

He also mentioned working together with Mexico to prevent Chinese steel and aluminum suppliers from avoiding the tariff by selling the metals indirectly to the United States through Mexican territory, as per the statement.

Also on Wednesday, the Biden administration initiated an investigation into Chinese trade practices across the shipbuilding, maritime and logistics sectors, which could result in additional tariffs.

In a quick response to the investigation, China's commerce ministry on the same day expressed strong dissatisfaction and firm opposition to the United States' launch of a Section 301 investigation into its maritime, logistics and shipbuilding sectors.

China exported approximately 845,000 tonnes of steel to the United States in 2023, accounting for just 0.94% of China's total steel exports in the past year, while its aluminum exports to the United States totaled 690,890 tonnes, representing 8.1% of its total aluminum exports last year, according to the data of General Administration of Customs of China.

Written by Adele Pan, panqinjie@mysteel.com

Edited by Alyssa Ren, rentingting@mysteel.com

Mysteel Global's previous report on United States' launch of a Section 301 investigation can be found via the links below:

https://www.mysteel.net/news/5051173-flash-china-mof-calls-meeting-to-address-us-petition-against-its-shipbuilders