LONDON, May 11, 2017 /PRNewswire/ --
Over 100 steel trade cases have been instigated globally over the past two years. At the time of writing, many remain either under investigation or duties, provisional or final, have been imposed. Few have been abandoned with no proof of harm. Since 2015, the world has become more protectionist. What has spurred this? How has it affected global steel trade? And, what does it mean for future trade and for exporters?
The rising tide of protectionism
The imposition of trade defences by a country rarely does more than shift imports to more costly import sources, lifting domestic prices in the process and providing added protection for the marginal producers in the country. Using the US and China as examples, our analysis demonstrates that, even following the imposition of trade measures, the level of imports into the US and exports from China are no different from what might be expected, given domestic steel market conditions in each country.
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SOURCE CRU Insight