Commerce to help steel industry after US imposed high import tariffs

 

 

The Ministry of Commerce says it is now working to find a solution to the steel industry after US President Donald Trump has decided to impose high import tariffs on steel and aluminum that will have a long-term detriment to Thailand’s steel industry.

 

The US restriction will take effect  on March 23.

 

Commerce Minister Sontirat Sontijirawong said after a meeting with steel industry representatives on Friday (March 9) that the industry viewed that in the short-term of 1-3  months, the impact would  be minimal as Thai steel will still remain competitive despite higher taxes.

 

Full story: http://englishnews.thaipbs.or.th/commerce-help-steel-industry-us-imposed-high-import-tariffs/

 

 

-- © Copyright Thai PBS 2018-03-11

If the Thai steel industry thinks they will get special treatment then they are living in a dream world.  Trump has already mentioned the trade imbalance between Thailand and the US, so now he's actually doing something about it.  Thailand should now worry about big Steel and Aluminium producers dumping their products on the Thai market. 

10 hours ago, rooster59 said:

Ministry of Commerce says it is now working to find a solution to the steel industry after US President Donald Trump has decided to impose high import tariffs on steel and aluminum t

He could better spend his time requesting an exemption from Trump on the grounds that it would be in the best interest of the US from a national security viewpoint. Trump has exempted 3-4 countries (including Australia, Mexico and Canada) and counting. The EU and Japan, South Korea are requesting exemptions. To deny them would be asserting that they endanger the US national security. 

On the other hand, China whom Trump repeatedly targeted during his campaign for raping the US economy with unfair trade practices will largely be unaffected by Trump's tariffs.

China’s steel imports to the United States total about 0.01% of the Chinese $11+ trillion GDP. “It’s not something that will register on any GDP growth number, so the direct impact is nonexistent there,” - Marie Diron, managing director of Moody’s Investors Service in Singapore.

Trump's Steel Tariffs Go Easy On China Despite Trade Deficit

https://www.forbes.com/sites/ralphjennings/2018/03/05/china-will-laugh-at-trumps-us-steel-tariffs-for-now/#3958e3355a94