The Trump Administration's second round of "Section 301" tariffs on $16 billion worth of Chinese products went into effect on August 23. In response, China also began assessing retaliatory tariffs on the same level of trade, including all scrap commodities. This means that all scrap exported from the United States that can pass China's import restrictions are now 25 percent more expensive.
Furthermore, ISRI has confirmed that China’s import tariff on aluminum scrap from the United States is now 50 percent. This is the combination of the earlier 25 percent tariff imposed in response to the Trump Administration's "Section 232" tariffs on aluminum and steel as well as an additional 25 percent as part of the "Section 301" retaliation.
We were told that the talks last week between the United States and China did not yield any specific plan for negotiating an end to this trade war. Our letter to the Secretary of Commerce and the U.S. Trade Representative appeals to them to return to the negotiating table in order to relieve the pressures our industry is facing with the combination of these tariffs and China's import restrictions.
We will discuss this and other efforts to fight for the industry during a Virtual Town Hall Meeting scheduled for Friday, September 14, at 11 a.m. ET. Information is coming soon, and we hope you will join us to have your voice heard on what more ISRI needs to do to support your business.
Please contact Adina Renee Adler
if you have any questions.
Leadership Update Main