AISI Applauded Biden’s Call to Triple Tariffs on Chinese Steel

SEATTLE (Scrap Monster): The American Iron and Steel Institute (AISI) applauded the decision by the Biden administration to consider tripling the tariffs on Chinese steel imports into the country. The move is considered as a means to protect the domestic steel and shipbuilding industry from China’s unfair practices.

In a statement, Kevin Dempsey, President, AISI noted that the Institute is heavily concerned about the recent hike in exports of Chinese steel to world markets. AISI welcomes President Biden’s actions to strengthen U.S. tariffs on Chinese steel and other moves aimed at addressing the threats of unfair trade practices by China. The Asian country seems to engage in widespread unfair trade practices, causing harm to American steel producers, the statement said.

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According to recent statistics published by the OECD, the Chinese steel exports recorded dramatic growth by 40% over a period of just one year. The exports surged higher from 68 million metric tons in 2022 to 95 million metric tons in 2023. However, a corresponding jump in exports to the U.S. was not seen during the one-year period.

The AISI statement added that China continues to disrupt world markets by subsidizing the production of steel and other products and also by dumping those products in world markets, including the U.S.