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Global MFG - Mar 14, 2022

EU Set to Add Luxury Goods, Steel, Iron to Russia Sanctions

The European Union is set to approve banning the sale to Russia of luxury goods worth more than 300 euros ($329.58), as well as the purchase of many Russian steel and iron products as part of a fourth round of sanctions over the invasion of Ukraine, according to a draft obtained by Bloomberg.

Nikos Chrysoloras and Alberto Nardelli | Bloomberg.com

#steel #supplychain

Waupaca Foundry

Iron Castings - Feb 7, 2022

U.S. and Japan Reach an Agreement to Remove Trump-Era Steel Tariffs

The U.S. and Japan reached a truce that will allow most steel shipments from the Asian nation to enter tariff-free for the first time since 2018 and sees the countries working together to combat Chinese trade practices that harm the industry. Washington will suspend the 25% levy on incoming steel imports from Japan up to 1.25 million metric tons a year, officials from the Commerce Department and U.S. Trade Representative's office told reporters on Monday.

Eric Martin, Jenny Leonard, and Isabel Reynolds | Bloomberg

#steel #tariff #trade

Waupaca Foundry

Global MFG - Jul 16, 2021

US steel importers criticize 232 ruling

The American Metals Supply Chain Institute (AMSCI) objects to a ruling by the United States Court of Appeals for the Federal Circuit confirming that the US President can adjust Section 232 tariffs long after they were first implemented.

In a split decision on Tuesday July 13, the three-judge panel overturned a US Court of International Trade (CIT) ruling that put a time limit on presidential tariff authority under Section 232.

Mark Shenk | amm.com

#steel #tariff

Waupaca Foundry

Global MFG - Jul 15, 2021

Steel Cheers US Court Ruling on Section 232

Steelmakers in the United States applauded a ruling by the US Court of Appeals for the Federal Circuit that confirmed the US President can boost Section 232 tariffs long after they were first implemented.

In the two-to-one decision on Tuesday July 13, the three-judge panel overturned a US Court of International Trade (CIT) ruling that put a time limit on presidential tariff authority under Section 232.

Mark Shenk | amm.com

#steel #tariff

Waupaca Foundry

Global MFG - Jun 28, 2021

Steel Going Into Biden’s Infrastructure Plan Reaches Record

A key steel product used in construction and automobiles reached a record Monday as U.S. President Joe Biden pushes ahead with his infrastructure spending plans.

Hot-rolled coil for July delivery rose 0.7% to $1,800 a short ton in New York, an all-time high, extending gains since the president secured a $579 billion bipartisan infrastructure deal on Thursday. Prices have more than tripled in a year.

Yvonne Yue Li | Bloomberg.com

#automotive #steel