imports

The U.S.-China trade war continues with President Donald Trump threatening to place 25 percent tariffs on more Chinese imports. However, businesses and economist warn consumers will be the ones paying.

Steelworkers from around the country were in D.C. this week to ask Congress to strengthen its support for the domestic steel industry.

Among them was Billy McCall, who’s worked at U.S. Steel’s huge Gary Works mill for more than 20 years.

He and other United Steelworkers union members talked with federal representatives this week about an ongoing trade investigation into the effect of excess Chinese steel imports on national security.

McCall says that’s about not just defense, but infrastructure and people.

Threat Of Trade War Could Impact Indiana Industries

Dec 20, 2016

 

President-elect Donald Trump is doubling down on his criticisms of U.S. trade relationships with China and Mexico, which has some wondering if a trade war is in the works.

Purdue University economist Larry DeBoer says the hallmark of a trade war is retaliation.

For example, higher U.S. taxes on Chinese steel imports could make China chooser to buy fewer American products, including those from Indiana, like soybeans or engine parts.

But DeBoer says even threat of a trade war is already affecting Hoosiers.

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A federal trade board has sided with the American steel industry this week, ruling that China harmed U.S. companies with unfair business practices.

But, U.S. steelmakers won't get the all-out ban on Chinese imports they requested.

The ruling is a victory for Pittsburgh-based U.S. Steel, which asked the International Trade Commission to recommend a ban on Chinese steel earlier this year.

For the first time in more than six decades, the United States is exporting more gasoline and diesel than it imports.

To be clear, we're talking about finished petroleum products, not crude oil. The U.S. still imports about half the crude it consumes.

Refineries are touting this new export statistic — after all, gasoline and diesel are manufactured products. They say a boost in exports keeps more manufacturing jobs in the U.S. But one reason exports are increasing is that demand for gas in this country is declining.