Thu. Jun 30th, 2022

The US government has reached an agreement with the EU in October 2021, which canceled the EU export to the US steel 25% import tariffs from January 1, 2022.The British government tried to reach an agreement to cancel tariffs, but did not succeed.The EU and the US new tariff agreement may cause serious blow to the UK export.Since the Trump President, President of 2018 has been collected by 232 tariffs, and the UK has reduced halfway to the US steel exports.The United States is the second largest export market in the UK.If 25% of tariffs cannot be canceled, the profits and employment in the UK Iron and Steel Industry will face a large impact.In addition, according to the EU and the US agreement, European buyers imported British crude steel processing, these steel still need to pay 25% of tariffs, which can be seen that British steel is not competitive in Europe.Therefore, the British government does not exclude the possibility of implementing retaliatory sanctions for imports to the United Kingdom.

According to Japanese customs statistics, Japanese scrap exports in November 2021 were 480,000 tons, down 6.7% from October.Among them, it is 2.6.55 million tons from South Korea, down 26.5% year-on-year; 1.691 million tons exported in Vietnam, a year-on-year reduction of 47%; 154 million tons of Taiwan, China, a year-on-year decline in 55%.From January to November 2021, there were about 6.8 million tons of waste steel in Japan, a year-on-year decline in 21.2%.

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