China’s Steelmakers Hit by Wave of Tariffs, Plunge in Export Orders

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Second quarter steel shipments are expected to plunge by about 20-30% after the US imposed a 25% tariff in March and other countries involved in trans-shipment followed suit The post China’s Steelmakers Hit by Wave of Tariffs, Plunge in Export Orders appeared first on Asia Financial.

A multi-billion-dollar supply chain that moves steel from China to the US via third countries was disrupted by a 25% tariff imposed by President Trump that went into force early in March.

While the steel industry has long expected near-record exports to ultimately trigger some backlash, the magnitude of protectionism unleashed by the trade war between Washington and Beijing has surprised many.

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Author / Journalist: Jim Pollard

Category: InvestingBusiness

Markets: Hong KongAustraliaBrazilCanadaChinaIndiaIndonesiaSouth KoreaThailandTurkeyVietnam

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Published On: 2025-05-08 @ 13:53:22 (16 hours ago)

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News Source URL: asiafinancial.com

Language: English

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