Breaking points of global trade discussed at BIR Valencia

The BIR (Bureau of International Recycling) World Recycling Congress and Exhibition, of which SteelRadar is a media partner, opened its doors today in Valencia, Spain. The International Trade Council, organized as part of the sessions that started with the opening, focused on geopolitical tensions, tariffs and the future of multilateral trade. Access to raw materials and trade vulnerabilities were at the center of the agenda in this important session that brought together the global players of the recycling industry.

Emmanuel Katrakis, Director of Government and Regulatory Affairs at Galloo, Dhawal Shah of METCO VENTURES LLP, Murat Bayram, Managing Director of EMR Europe, Robin K. Wiener, President of the Recycled Materials Association, and Professor of Economics Philippe Chalmin, from CyclOpe were among the panelists.

Speaking at the panel, Philippe Chalmin made striking statements, especially regarding the US's trade strategies and its approach to tariffs. Pointing out that the US imposes 25% tariffs even on close friends like Canada and Mexico, Chalmin emphasized that although some exemptions have been made for Canadian lumber and oil, the general framework is still unclear. He also addressed the sharp increases in tariffs on China and the need to bring this process to the negotiating table.

Chalmin emphasized China's dominance in strategic metals, stating, "It's not the mining, but the metallurgical processes are almost completely controlled by China. This strengthens China's hand,". Referring to the European Union's capacity to respond, Chalmin stated that the countervailing measures taken by Brussels have not been suspended, so the course of the negotiations will be decisive.

Noting that the US is demanding restrictions on Chinese investments, Chalmin pointed to an economy in the dilemma of stagnation and inflation today, despite the 2.5% growth rate inherited during the Trump era. In particular, he expressed that the q/q impact of imports may suppress growth.

At the end of his speech, Chalmin stated that the tariffs on goods transported by Chinese-made ships have the potential to threaten supply chains, "China is using strategic metals as a trump card to retaliate. This is not only a trade issue, but also a strategic struggle," he stated.