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Tag Archives: tariff

China hits back at Trump, but LNG stays untouched

Given the central role that both countries envisage for bilateral LNG trade in their national energy strategies in the years ahead, it was not entirely surprising that Beijing opted to exclude LNG from its threat to impose an additional 25% tariff on $50 billion worth of US goods, including energy and agricultural products. LNG is playing an increasingly important role in China’s energy security. China surpassed South Korea as the world’s second largest LNG importer in 2017, its LNG demand is...

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AFPM: Executives weigh in on tariffs, immigration and US unemployment

Global trade set the tone and official theme for this year’s American Fuel and Petrochemicals Manufacturers International Petrochemical Conference in San Antonio this week, as chemical interests from around the world met to conduct business and exchange information. The official conference theme of global trade is underpinned by the resurgence of the US market’s growth in exports in crude, refined products as well as petrochemicals and plastics. Topics of interest were around...

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US Section 232: Trump runs countercurrent to global steel’s decarbonization drive

The US is taking steps to boost crude steel output as a result of this week’s imposition of Section 232 import tariffs on steel and aluminum – measures that could potentially block some 28 million mt of steel imports and boost local steel production by up to 19.5 million mt. This likely means burning more coal, bringing back on stream up to 5 million mt of idled coke plant capacity to fuel blast furnaces, and greater usage of pollutant lower grade taconite Minnesota and Michigan iron...

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Japan aluminum’s tipple of choice: US bourbon in a can

Jim Beam, the world’s biggest-selling US bourbon whiskey, is sold mostly in aluminum cans in Japan — which could potentially take an unintended hit from the US’ recent move to impose a 10% levy on aluminum imports. Depending on how world leaders respond, global aluminum supply flows may change if there are hiccups in the supply chain and volatility in prices. Australia, which has been exempted from the new US aluminum and steel tariffs, is not a major aluminum exporter to...

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US steel market winds blowing in a new direction

The political winds in favor of the US steel industry may be dying down, but the winds of two recent hurricanes — Harvey and Irma — may give the industry a boost. “Sadly, the hurricanes might be what saves the steel market in the second half of 2017,” said one American steel distributor. He reasoned that good old supply and demand may provide what politics has not. Talk of the hurricanes’ impact has temporarily replaced the possibility of massive tariffs and/or...

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The waiting is the hardest part for US steel markets

The American steel industry is desperately in need of relief, but it’s not what you think. We have heard a lot about the possibility of import restrictions stemming from the government’s ongoing Section 232 investigation — that is the big issue. But the smaller, more pressing matter right now is the announcement of that relief, or lack thereof. American steel markets are seemingly at a standstill because Commerce Secretary Wilbur Ross has suggested on several occasions that while...

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US import tariff could create nightmare for Argentinian biodiesel

You’ll have to forgive Argentinian biodiesel producers if they’re feeling a bit down. After seeing a market resurgence in early 2016, one of the world’s top biodiesel-exporting countries seems to be getting nothing but bad news in the last few months. The bad news came to a climax in late March, when a US biodiesel trade group and several US biodiesel producers asked the federal government to impose a tariff on imports from Argentina and Indonesia. It was the latest in a...

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It’s A Snap

Snapchat, a company that describes itself as a camera company yet makes no cameras, went public last week at a valuation of $24 billion. The company is growing fast, revenue up from $58 million to $405 million in just the last year. And as one publication put it, the company “earned” a loss of $514.6 million in the process. The company, in its SEC filing added: We have incurred operating losses in the past, expect to incur operating losses in the future, and may never achieve or...

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