Kevin Dempsey, President and CEO of the American Iron and Steel Institute (AISI), on Wednesday, May 12, 2025, commented on the agreement between the United States and China, which includes temporary tax relief, the elimination of retaliatory measures, and the retention of key US tariffs on China. Dempsey emphasized the importance of the agreement, especially for the American steel industry.
"We welcome today's agreement and thank President Trump, Secretary of Commerce Bessent, and US Trade Representative Ambassador Greer for their leadership in bringing this process to a smooth conclusion. The agreement preserved trade safeguards that are vital to the steel industry," stated Mr. Greer.
Dempsey noted that China's steel production remains at record levels and exports reached 118 million metric tons in 2024 despite a decrease in domestic demand, exceeding total production in North America. On the other hand, he pointed out that China's steel imports have declined by almost 80%.
Dempsey also noted that the Chinese government is encouraging new export-oriented steel production investments in Southeast Asian countries - especially in Indonesia and Vietnam - as part of the Belt and Road Initiative, and said that this trend should be carefully monitored in terms of global competition.
"It is critical for the U.S. steel industry that the tariffs on Chinese steel under Articles 232 and 301 remain in full force and effect under the new agreement. It is essential to the national and economic security of the United States," he concluded.
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