It was all just a fleeting, pleasant dream.
bodog casino U.S. steelmakers woke last week to the brutal reality of evaporating tariffs on Canadian and Mexican steel. But an even greater problem is waiting in the wings: China may soon be tempted to ship more of its unwanted steel to foreign shores.
President Trump said Friday that the 25% tariffs he imposed on Canada and bodog online casino Mexico in mid-2018 would be lifted and that both countries would drop retaliatory levies. That removes a major hurdle to congressional approval for Mr. Trump’s revamped Nafta, the U.S.-Mexico-Canada Agreement.
U.S. steel companies will certainly take a hit, given that the tariffs boosted U.S. prices significantly bodog sportsbook review above the global average for most of 2018, at the expense of steel-consuming industries like oil and autos. Even with the 25% tariff, imports of Canadian and Mexican hot-rolled coil steel are roughly 5% cheaper, according to Moody’s.
[To read the original article, click here.]