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WSJ: Trump’s bid to stem steel imports faces big obstacles

Published 04/20/2017, 06:57 PM
Updated 04/20/2017, 06:57 PM
© Reuters.  WSJ: Trump’s bid to stem steel imports faces big obstacles
  • Steelmakers rebounded in a big way today after Pres. Trump ordered a U.S. investigation of steel imports and China iron ore prices rose following a selloff that may have been overdone.
  • But a WSJ analysis notes that Trump’s bid to slow the flow of imports into the U.S. steel market is fighting strong currents: U.S. market prices are among the world’s highest, and a strong dollar makes overseas products even more competitive.
  • Wider duties on imports also could encourage U.S. producers to further drive up their prices, complicating Trump’s pledge to support U.S. manufacturers.
  • Even within the U.S. steel industry, many of the biggest producers are global companies with operations that could be affected by new trade sanctions.
  • In today's trade: AKS +8.6%, CLF +8.2%, X +7.3%, NUE +4.7%, MT +4.1%, VALE +3.6%, SLX +3.5%.
  • Now read: Copper Could Be Heading For Support


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