US Domestic Producers Hurt by Imports of Fabricated Steel: Commerce Department

US Commerce Department stated on Monday that imports of fabricated structural steel from China and Mexico are harming domestic producers of

Arslan Butt•Tuesday, July 9, 2019•1 min read

Amid rising global trade tensions, the US Commerce Department stated on Monday that imports of fabricated structural steel from China and Mexico are harming domestic producers of such steel. As a result, importers of such steel will be charged by the Customs and Border Protection.

This kind of steel is used in heavy construction, including building bridges, ports and parking decks. In March as well, the US International Trade Commission had reported similar findings.

The Commerce Department is expected to rule on this issue in November 2019. If this ruling gets enforced, it can impact over $2.4 billion worth of fabricated steel imported from Canada, China and Mexico.

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Arslan Butt

Index & Commodity Analyst

Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics. His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker. His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.