Supply Chain Research

The Chinese Ministry of Finance has cut import duties on certain steel products in order to try and reduce the cost of steel after a recent surge. There may be an opportunity for U.S. exporters to sell more into China as a result of the reduced tariffs, particularly in the context of purchases made under the phase 1 trade deal. Those were worth $583 million in the 12 months to March 21 after a 27.6% increase in Q1’21, though that still left shipments 61.4% below the same period of 2017. Prioritizing exports to China could crowd out sales or increase prices for buyers of U.S. steel elsewh...