It has little impact on China's steel industry.
China's steel exports have fallen in recent years, and the excess capacity of its steel industry has been further liquidated in the course of supply-side reform and environmental protection restrictions. According to media statistics, China's steel exports to the United States account for only 1% of its total steel exports. The China iron and steel association said the impact of the new tariffs would be minimal. China's steel exports to the us account for just 0.1 per cent of its overall output.
At the same time, U.S. steel and aluminum producers may experience rising stock prices and rising market share, but for U.S. steel and aluminum consumers, costs have risen and prices have fallen. Mr. Trump's tariff decision had led to a 30% increase in U.S. steel mills. Further trump tariff policies would bring steel prices "into the unknown". Industries such as automobiles, airplanes, construction, oil extraction, packaging and chemicals are all dependent on steel and aluminum, and the negative impact of the trump tariff on American manufacturing has already been seen.
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