Tariffs in the News
There has been much in the news about tariffs; so much that it’s hard to report on all of it. The idea behind the tariffs is that Chinese steel, which is 70% state-owned, loses $34/ton on every ton produced. The tariffs are one way of combatting this government subsidization.
Some say the tariffs have hurt, and some say they have helped. For steelmakers who import their raw materials, tariffs have been a hardship. Both voestalpine and NMLK have applied for waivers on their raw material. In the case of NMLK Pennsylvania, their imported slabs are used to produce steel coils.