Biden triple tariffs on Chinese steel and aluminium, denies trade war

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The action, however, is largely symbolic, given US imports of Chinese steel and aluminium totalled just $US1.7 billion in 2023. Chinese steel accounts for only 1 per cent of America’s domestic supply, and aluminium for about 3.6 per cent of total imports. Mining giant Rio Tinto said this week that China’s domestic steel demand was at levels similar to last year, but that “steel exports rose 30 per cent year-on-year during the first two months [January and February] and are likely to remain historically elevated, in turn, supporting iron ore demand”. The hot-rolling steel mill in China. The Biden administration...