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Taiwan's steel mills concerned about follow-up effects of US tariffs on Canada and Mexico

22 Jan 2025 16:01 reported by Alston Tsai

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As soon as US President Donald Trump took office, he announced that his administration would impose a 25% tariff on Canada and Mexico on February 1. This implementation is bound to have an impact on related industries, especially the automobile industry, as the steel is processed and assembled in Canada or Mexico and then sold back to the US market. 

China Steel Corp.(CSC) considers that the details of the tariffs are still unclear, so they will carefully evaluate the subsequent effects. 

Trump prioritizes protecting local manufacturing interests and will impose tariffs on China origin continuously. Market participants believed that there may be opportunities to transfer orders to Taiwanese steel mills, but they need to pay attention to low-price dumping by Chinese mills, which will impact the global market trend.

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