US Commerce: One option is to impose 24% global steel tariff

Author: Adam Button | Category: News

Commerce Dept lays out options for Trump

  • Alternative option of 53% tariff on steel imports from 12 countries, including Brazil, China, Vietnam and South Korea
  • Another option of quota on all steel products from all countries of 63% of each country's 2017 exports to US

On aluminum

  • Recommends one options of at least 7.7% on aluminum from all countries
  • Alternative option of 23.6% tariff on productions from China, Hong Kong, Russian, Venezuela and Vietnam with other countries have quota of 100% of 2017 exports to US
  • Alternative options all countries have quota of 86.7% of 2017 exports to US

Those sound awfully harsh. Shares of US domestic producers are surging with US Steel up more than 11%.

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