The U.S. government has extended section 232 national security tariffs on steel and aluminum after a failure to boost industry capacity utilization. The new coverage will include derived items including steel fasteners and aluminum cables as well as automotive components. The latter also fits with the Trump administration’s aims to use automotive tariffs as leverage in trade negotiations with the EU. While evidence of evasion is not provided, there are signs of changing import patterns. Imports of steel products covered by the new order from countries not currently exempt from section 23...
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