If there were any hope President Joe Biden would undo his predecessor’s divisive trade tariffs that caused upheaval in the global steel and aluminum markets, it all but evaporated Friday. Know more:
If there were any hope President Joe Biden would undo his predecessor’s divisive trade tariffs that caused upheaval in the global steel and aluminum markets, it all but evaporated Friday.
“The Biden Administration is committed to preserving US national security by ensuring the long-term viability of our steel and aluminum industries, and we do not intend to remove the Section 232 duties as a result of these disputes”, Adam Hodge, a spokesman for the US Trade Representative, said in a statement.
Two industry insiders familiar with the matter said the USTR’s stance on the ruling gives them certainty the president won’t roll back the Section 232 tariffs. The metals industry already was taking a victory lap with US Steel Corp. commending Biden for defending the industry and the United Steelworkers calling the WTO’s decision “just plain wrong.”
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