Taiwan Steel Association Seeks Talks on Section 232 Tariffs in US
CNA reported that Taiwan Steel and Iron Industries Association has urged the government to try to negotiate lower tariffs for Taiwanese steel products with the United States during Taiwan-US trade and investment talks, but it i not clear if its appeal was heard. Taiwan Steel and Iron Industries Association President & China Steel Corp Chairman Mr Wong Chao-tung has urged the government to push for a reduction in tariff surcharges for Taiwan-made products, especially cold-rolled and coated steel, that the US imposed on steel imports from around the world. He said “The tariffs have had a great impact on Taiwan's steel manufacturers and that steel shipments from Taiwan to the US had decreased year by year.”
He was referring to an additional 25% tariff on steel imports that the U.S. has imposed on almost all countries since 2018 after former US President Donald Trump signed an order under Section 232 of the Trade Expansion Act of 1962 over national security concerns. Taiwan exported USD 850 million worth of steel products that were affected by the Section 232 tariffs to the US in 2019, down 28.4% compared to the previous year.