Argentinian steel association Camara Argentina del Acero (CAA) has expressed concerns over Donald Trump’s plans to impose a 25 percent tariff on imported steel products.
CAA said that despite acknowledging the measures are yet to be “formally announced” this week, and that the reach of the measures to the affected countries remains “uncertain,” Trump’s announcement would impact Argentinian steel exports to the US.
CAA said Argentina exported over 200,000 mt of steel pipe and tubing to the US in 2017, a high value-added product aimed at the oil and gas industry. CAA said the local tube industry could be impacted by Trump’s proposed steel tariffs.
The Argentinian steel association said the measure would also have an adverse effect on both the Latin American and Argentinian steel markets.
“On the other hand, Trump’s decision could generate a deviation of steel trade to Latin America, especially to Argentina. Those products often arrive at unfair trade conditions from countries like China, South Korea, Vietnam, Russia and Ukraine,” CAA said in a statement.