Ternium, ArcelorMittal face steel restrictions during Trump’s re-election campaign

Brazil 342 Coronavirus 428 Elections 105 Materials - Metals/Mining 635 Metals - Steel 438 Mexico 730 Tariffs 1646 U.S. 4626

The U.S. government has made two changes to the section 232 (national security) tariff package for steel in order to better protect the industry in the wake of COVID-19. The timing suggests that pre-election considerations may have played a part for the Trump administration. In the first move, the remaining quota for imports of semi-finished steel from Brazil for the rest of 2020 has been cut by 80% and will be revised for 2021. Brazilian exports of the products covered to the U.S., led by shipments linked to Ternium, already dropped by 43.7% year over year in Q2 as a result of the pande...

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