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Thread: Transshipment of Chinese Steel

  1. #11
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    Re: Transshipment of Chinese Steel

    Check Kobe Steel scandal.

    Japanese steel producer used Chinese steel but sold it as Japanese quality steel.

  2. #12
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    Re: Transshipment of Chinese Steel

    Quote Originally Posted by Barnacle View Post
    Check Kobe Steel scandal.

    Japanese steel producer used Chinese steel but sold it as Japanese quality steel.
    As far as I have read they faked the quality of steel they produced not that they used Chinese steel

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    Re: Transshipment of Chinese Steel

    WASHINGTON, March 8 (Reuters) - U.S. Commerce Secretary Wilbur Ross said on Thursday broad steel and aluminum tariffs were needed to counteract China’s transshipment of products through third countries.

    In an interview with CNBC following President Donald Trump’s tariff announcement, Ross said: “China has been very clever at transshipping products through other countries and dislodging domestic demand in other countries, which causes their producers to dump on us.”

    “So the reason we have to go on a broader basis is to deal with the problems of transshipment and the problems of displacement,” he said. (Reporting by Eric Beech; Editing by Mohammad Zargham)
    Steel and aluminum tariffs are imposed on the EU and Japan as well as other American allies. South Korea will likely lose more than $1.1 billion per year. Wilbur Ross said broad steel and aluminum tariffs were needed to counteract China’s transshipment. Only Canada and Mexico were exempted because Trump is still renegotiation NAFTA with these countries.
    Last edited by ThirdTerm; 03-09-18 at 12:42 AM.
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    Re: Transshipment of Chinese Steel

    U.S. Trade Representative Robert Lighthizer was due to meet EU trade chief Cecilia Malmstrom and separately with Japanese Trade Minister Hiroshige Seko on Saturday for long-planned talks that have taken on added urgency amid concerns that Trumpís move could provoke a global trade war.

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