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China’s govt decreases import tariff of aluminum & steel products

As it’s well known, the US government imposed a series of tariffs on Chinese imports of aluminum and steel products since 2018 after the investigation of Section 301.

However, seemed the situation was getting better recently, because after February 14th of 2020 the US government and the Chinese government have ratified the phase one for a new commercial agreement, which has made the tariff of 15% down until 7.5%, but the tariff of 25% for the moment remained in phase two. This meant the real crisis for China still existed.

Despite this, it seemed the Chinese government has been complicating the evolution of the Global Steel Overcapacity Forum in the last G-20 in October of 2019. This behavior might be one of the potential factors to affect the result of the new commercial agreement between the US and China.

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