Who are Trump's steel and aluminum tariffs really targeting? Four countries following the same path as the US

According to The New York Times, although the 25% tariff on all steel and aluminum imported into the US mainly affects allies such as Canada, Brazil and Mexico, the real target is China - the country that dominates the global steel and aluminum market.

Mr. Trump officially signed an executive order imposing a 25% tax on steel and aluminum imported into the country. (Source: THX)

On the morning of February 11, President Donald Trump officially signed an executive order imposing a 25% tax on steel and aluminum imported into the US, with no exceptions or exemptions.

China does not export much steel and aluminum directly to the United States because of the tariffs it has imposed on it. However, as its economy struggles and domestic demand declines, the Northeast Asian nation has increased exports to third countries at very low prices, The New York Times reported.

Third countries will finish and re-export to global markets. For example, Canada and Mexico import cheap steel from China and then export their products to the US at a higher price.

“Beijing’s excess capacity is flooding the world market and causing serious harm to Washington manufacturers,” said Michael Wessel, a longtime trade adviser to the United Steelworkers union.

The steel industry plays a major role in the politics of the world's largest economy, especially in Pennsylvania - a key state in recent presidential elections.

The United Steelworkers union is headquartered in Pittsburgh, while US Steel - the symbol of the country's steel industry - is also headquartered in Pennsylvania.

From producing half of the world's steel in the 1940s, America's market share has now fallen to less than 5%.

The trade backlash against Chinese steel is not limited to the world's largest economy.

Over the past year, Brazil, Canada, Indonesia and Türkiye have all sharply increased tariffs on steel imported from the country of a billion people into these four markets.

Source: https://baoquocte.vn/muc-thue-quan-voi-thep-va-nhom-cua-ong-trump-thuc-su-nham-vao-ai-four-nations-co-huong-di-giong-my-303939.html