Feb 10 (Reuters) - U.S. President Donald Trump said on Sunday he will introduce 25% tariffs on all steel and aluminum imports into the United States, on top of existing metals duties, in another major escalation of his trade policy overhaul.
Here's a summary of the major trade partners it will affect.
Steel
Roughly a quarter of all steel used in the United States is imported, the bulk of it from neighbours Mexico and Canada or close allies in Asia and Europe like Japan, South Korea and Germany.
While China is the world's largest steel producer and exporter, very little is sent to the United States. Tariffs of 25% imposed in 2018 shut most Chinese steel out of the market.
China exported 508,000 net tons of steel to the U.S. last year or 1.8% of total American steel imports.
Aluminum
In the case of aluminum, the U.S. is more heavily reliant on imports. Roughly half all aluminum used in the U.S. is imported, The vast majority comes from neighbour Canada. At 3.2 million tons last year, Canadian imports were twice the next nine countries combined.
The next largest sources of imports are the United Arab Emirates and China at 347,034 and 222,872 metric tons, respectively.
The U.S. aluminum smelting industry is small by global standards. Total smelter capacity in the country was just 1.73% of the global total according to the U.S. geological survey.
U.S. aluminum imports from Canada are twice the next nine countries https://reut.rs/3CSy25F
Mexico and Canada account for almost 40% of US steel imports https://reut.rs/4jTfVNA
(Reporting by Amy Lv and Lewis Jackson in Beijing, Neha Arora in New Delhi, Francesco Guarascio in Hanoi, Hyunjoo Jin in Seoul; Editing by Michael Perry)
((Amy.Lv@thomsonreuters.com;))
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。