Uncertainty about the international trading situation after the conclusion of the Section 232 investigation in the United States was one of the principal issues discussed during the 78th meeting of the International Rebar Producers & Exporters Association (Irepas) in Poland.
The US initially decided to apply a 25% import tariff to all imports of steel products, and 10% on aluminium, although some countries have been temporarily exempted while negotiations take place. In some cases, a quota system may be used instead, the meeting in Warsaw, on May 6-10, heard.A session of the traders' committee concluded that "the 25% duty would be a better solution than quotas, because everybody would be in the same situation." This idea was supported by the majority of participants.On May 1, the US postponed imposing the Section 232 tariffs on steel and aluminium imported from the EU, Canada and Mexico until June 1, extending negotiations for a...