US steel tariffs could trigger a global trade war – CISA

The China Iron and Steel Association (CISA) believes that a 25% increase in tariffs on all steel and aluminum imports to the United States will have a negative impact on the global steel supply chain. This is reported by Reuters.

According to the industry association, the impact of these tariffs on Chinese steel exports will be limited in the short term. However, in the long run, the US move could push other countries to follow suit, thereby reducing the competitiveness of China’s steel products.

Last year, China exported 508 thousand short tons of steel to the United States (1.8% of total U.S. steel imports).

Zhang Longqiang, deputy secretary general of CISA, said that the association strongly opposes the tariff increase and believes that it does not contribute to «healthy and fair trade and market competition».

«In the medium and long term, the tariff hike will have a negative impact on the industrial and supply chain of the global steel industry, including China’s steel industry,» he said.

As a reminder, on February 10, US President Donald Trump ordered a 25 percent duty on all steel and aluminum imports to the country without any exceptions or exemptions. According to the White House, the duty will come into effect on March 12 this year.

As GMK Center reported earlier, the US trading partners are concerned about Trump’s decision. Industry associations and officials are weighing the implications of this step