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The world steel market has always been one of the most competitive markets. With the strong development of the steel industry in many countries, the US recently decided to impose a 25% duty on imported steel, a move that could open up great opportunities for Vietnam steel enterprises.To learn more about the prospects that the Vietnam steel industry can take advantage of in the future, read the article below from AG真人游戏 Steel.A wave of US duties is affecting the global steel marketThe effects of US tariffs on the global steel industryThe US recently levied a 25% duty on steel imports. This choice was taken in order to shield the homegrown steel industry from intense competition from low-cost steel suppliers. This policy not only affects countries with developed steel industries but also affects the global steel industry. The imposition of tariffs will make steel more expensive, reducing competitiveness in the US market. This will lead to some steel importers looking for more cost-effective sources, which could alter the global supply chain.US tariffs will make steel more expensiveWhat opportunities for Vietnam's steel industry?As the US imposes a 25% duty on imported steel products, Vietnam's steel industry can take advantage of some great opportunities to expand its market and increase exports.Growth in exports to the US market: Vietnam is one of the leading steel-producing countries with low production costs, enabling Vietnam steel products to have more competitive prices than competitors. This is a key factor that helps Vietnam steel enterprises compete directly with other countries in exporting to the US.Promote technological innovation and product quality: The US decision to impose high tariffs may force steel exporters from other countries to seek new markets. Vietnam steel can take advantage of this opportunity to increase exports not only to the US but also to other countries affected by US tariffs, thereby contributing to expanding its global market share.Encourage investment and development of the domestic steel industry: To meet the strict requirements of the US market, Vietnam steel enterprises need to improve product quality and improve production processes. This will not only help satisfy the needs of customers in the US but also open up opportunities for Vietnam steel to reach other international markets, especially those with high standards.Vietnam can take advantage of available opportunities to boost exports to the USCompetitive advantages of Vietnam's steel industryCompetitive production costs: Vietnam's labor costs are still far lower than those of steel-producing giants like China, Japan, and South Korea. This gives domestic businesses a competitive price edge in the global market by enabling them to drastically cut production costs.Convenient geographical location: Vietnam's advantageous geographic location next to major markets like China, Asean, India, and Japan helps companies export steel at a lower cost of transportation. Furthermore, importing raw materials and exporting goods to other countries is made easier by the contemporary and growing seaport network.Free Trade Agreement: Due to its membership in numerous significant trade agreements, including the RCEP, CPTPP, EVFTA,... Vietnam has advantageous conditions for the export of steel. Domestic businesses benefit from preferential duty rates as a result of these accords, which makes Vietnam steel products more competitive when compared to nations without such advantages.Product quality is increasingly improving: Significant technological advancements have helped Vietnam steel industry meet international standards and increase product quality. Numerous domestic businesses have been successful in producing high-quality steel that is suitable for export to markets with significant demand, like the US and Europe.Products are increasingly improving in qualityChallenges and strategies to seize opportunitiesVietnam steel mills have numerous obstacles while trying to break into the US market, despite the abundance of prospects. Both adherence to import laws and extremely high standards of quality are necessary in this industry. Vietnam steel mills must thus concentrate on raising their level of competitiveness and increasing the quality of their products. Additionally, companies must thoroughly research US import and tariff laws to minimize needless risks. The opportunities and difficulties that the Vietnam steel industry faces when the US levies a 25% duty on imported steel products have been briefly discussed in the article on AG真人游戏 Steel. Please get in touch with us if you need to buy premium steel products. AG真人游戏 Group is always available to help and guide you in selecting the product that best meets your needs.

The decision to impose tariffs on all steel imports to the US was made by President Donald Trump. The purpose of this action was to reduce reliance on imported steel and safeguard the indigenous steel production sector. But this choice has also sparked worries about a world trade war. These changes have the potential to impact numerous other economic sectors in addition to the steel industry.You can read more about this event in detail in the article that follows. For a better understanding of relevant developments, please follow AG真人游戏.Donald Trump makes the decision to duty all steel importsImported steel under duty pressure from the United StatesA deal that would impose tariffs on all nations that import steel into the US was just signed by US President Donald Trump. Therefore, exclusions and duty-free quotas for significant suppliers like Canada, Mexico, Brazil, and other nations are eliminated, and the imposed duty rate is 25%. The action is regarded as a watershed in the improvement of US trade policy and was a campaign pledge made by Donald Trump. Furthermore, President Trump made hints that he would think about enacting more tariffs on computer chips, pharmaceuticals, and cars. To reduce the amount of Chinese steel products that are imported into the US, the US will also impose new rules that require imported steel products to be "melted and poured" in addition to additional duties.Prior to this, in 2018, Donald Trump levied a 25% tariff on steel imports during his first term. Nonetheless, a few nations that trade with the United States, like Canada, Mexico, and Brazil, have been given tariff-free quotas for these goods. Since Biden took office, the UK, Japan, and other EU nations have been included in this quota. The domestic steel sector has suffered in recent years as the US steel mills reduced capacity due to this limitation. According to government statistics from the American Iron and Steel Institute, the top four countries from which the United States imports steel are Canada, Brazil, Mexico, and Vietnam. The tariffs are intended to improve national security, lessen reliance on imports, and safeguard the domestic steel sector. There are worries that nations would react against President Trump tariff policies, plunging the economy into a trade war. According to a February Reuters survey, U.S. consumer confidence dropped to its lowest level in seven months as respondents began to fear higher inflation as a result of tariffs.Imported steel under tax pressure from the United StatesWhat happens if steel products are subject to tariffs from the US?For the production of automobiles, aircraft, and buildings, steel is considered a crucial raw element. There will be numerous significant effects if the US levies a 25% tariff on steel imports:Increase product price: The chance to raise steel pricing will be available to domestic steel producers. This would raise the price of steel products in the US, which would have an impact on steel-dependent businesses, including construction, industrial manufacture, and automobiles. Negative impact on steel-dependent industries: Steel-using companies and industries will have to pay more, which may result in lower output, fewer jobs, or higher final product prices.Encourage domestic production: In order to lessen reliance on imported steel, this policy may incentivize indigenous steel companies to increase their output and make investments.While the purpose of this policy is to protect domestic industries, the decision could also have unintended consequences for the US economy. You learned about the increased duties the US is putting on imported steel products from the story on AG真人游戏. To read the most recent news about the steel business, follow AG真人游戏.

Nippon Steel declared it would sue President Joe Biden for his actions in approving the United States Steel and Nippon Steel merger.Follow the AG真人游戏 article below to update the latest information about the incident.Nippon Steel intends to acquire United States Steel for approximately $15 billionUnited States Steel and Nippon Steel merger deal turns sourUpon January 6, Nippon Steel Corporation elected to file a lawsuit against President Joe Biden. Specifically, Mr. Joe Biden prevented this organization from acquiring United States Steel of America for approximately $15 billion USD. As a consequence, the US President declared that the acquisition of United States Steel by Nippon Steel would jeopardize the nation's national security and critical supply chain. However, in response to Mr. Biden's decision, Nippon Steel and United States Steel declared that they would exert every effort to safeguard their legal rights. Nippon Steel and United States Steel will also argue in court that Mr. Biden's decision violated due process under the US Constitution and that he failed to present sufficient evidence to demonstrate that the agreement between the two companies would endanger US national security. Furthermore, this is the first instance in which a Japanese company's merger and acquisition deal has been thwarted by a US president.Nippon Steel justified its acquisition of United States Steel by asserting that it would facilitate the company's resumption of operations, despite its numerous challenges. Additionally, the authorization of the acquisition will ensure that American individuals will continue to hold management positions and serve on the board of directors of United States Steel, as Nippon Steel will invest more than $2.7 billion. Nippon Steel's objective is to elevate its annual production capacity from 65 million tonnes to 85 million tonnes on a global scale. If the merger with United States Steel is finalized, this objective will be entirely feasible.Outside Nippon Steel headquarters in TokyoWhat impact would a combination between United States Steel and Nippon Steel have on the world steel market?A merger between Nippon Steel and United States Steel might result in a multinational steel corporation with significant future effects on the steel sector. Expanding the global supply chain: With their respective worldwide production and distribution networks, Nippon Steel and United States Steel will be better equipped to satisfy demand from a wide range of geographical areas as a result of the merger. Stronger competition: Following the merger, Nippon Steel and United States Steel will be better equipped to compete with ArcelorMittal, Tata Steel, and POSCO, among other significant international rivals.Impact on steel prices: A significant portion of the steel market would be controlled by the merger of Nippon Steel and United States Steel, which might have an impact on steel pricing worldwide.Increase investment in green technology: Post-merger companies may need to invest more in clean technologies and lower carbon emissions due to the growing demand on environmental protection worldwide. This could alter the way steel is made and have an impact on the company's long-term strategy.Changing the structure of the steel industry: Since two of the biggest steel producers would unite to form a single organization that controls the global steel market, the merger of these two businesses might drastically alter the composition of the steel sector. The merger of Nippon Steel and United States Steel may alter the structure of the steel industryAll things considered, the combination of Nippon Steel with United States Steel might result in a strong steel corporation, but it would also bring about significant changes to the world economy and the steel sector. Even while it might have a lot of positive economic effects, there will be significant obstacles to upholding fair competition and safeguarding workers' rights.In the article above, AG真人游戏 has provided you with the most recent information regarding the merger between the United States and Nippon Steel. Stay informed about the most recent advancements in the steel industry by following us. If you have any inquiries, please do not hesitate to contact us

The steel industry in Vietnam has witnessed significant growth in exports to the US market, demonstrating its competitive ability and reliability on the international stage. In the first 7 months of 2024, the US was the largest export market for Vietnamese steel, with 1.11 million tons, generating a revenue of 923 million USD, a 91.3% increase from the previous year. This strong signal indicates the potential for expanded trade relations between the two countries in the near future.Vietnam's steel exports to the US soar, showcasing strong trade growth and future opportunitiesChallenges and opportunitiesDespite challenges such as anti-dumping investigations by the US International Trade Commission, Vietnam has not only maintained but also strengthened its position in the global market. This is thanks to the growth in exports of corrosion-resistant steel products and oil country tubular goods (OCTG), showcasing advanced production capabilities and technology. Specifically, the US imported over 11,000 tons of OCTG products in August 2024 and 565,400 tons of CORE products in the first eight months of the year.According to the US Department of Commerce, in August alone, Vietnam exported 139,800 tons of coated steel, nearly half of which 65,200 tons were hot-dip galvanized coil products, along with 38,100 tons of other metal-coated flat steel products.Forecasts and prospectsThe Vietnam Steel Association (VSA) predicts that domestic steel consumption will increase by 6.4% to nearly 21.6 million tons. At the same time, exports of finished and semi-finished steel products are expected to grow by 12%, reaching nearly 13 million tons, further strengthening Vietnam's position on the global steel map.This impressive growth is supported by significant expansion plans in the Vietnamese steel industry. By the end of 2025, Vietnam will add an annual production capacity of 6.5 million tons of crude steel. Vietnamese steel manufacturers will also continue to implement previously announced projects and plan new facilities.Vietnam's steel industry thrives amid challenges, driving export growth and expanding global presenceIn September 2024, the phase 2 project of the Hoa Phat Group鈥檚 integrated steel plant in Nong Quy, Quang Ngai province is expected to complete the installation of a hot strip mill with a capacity of 5.5 million tons per year. The mill can produce sheets ranging from 1.2-25.4mm in thickness and hot coils from 900-1650mm in width. Once installation is completed, the Hoa Phat Group will begin cold trials and machine calibration, with hot trials expected by the end of the year. The production facility will also be equipped with two 2,500m3 blast furnaces (2.5 to 2.8 million tons/year) and a steel conversion workshop, including two continuous slab casters (total capacity of 6 million tons/year). The trial operations will be carried out in two phases: the first phase will be completed in early Q1 2025 and the second phase equipment will start operating in Q4 2025.The strong increase in Vietnam's steel exports to the US not only reflects the superior production capacity and high adaptability of the Vietnamese steel industry but also proves the commitment and continuous efforts to expand the market and improve product quality. This clearly shows that Vietnam is not only a trade bridge but also a reliable steel production partner globally. If customers are interested in learning more about the export process and the import benefits of Vietnamese steel, please contact AG真人游戏 Steel via Email: [email protected] or Whatsapp: +84 769 112 358 for the best support.

U.S initiated an anti-dumping investigation into imports of corrosion-resistant flat products (CORE) from ten countries, including Vietnam.Several major American steel manufacturers, including Steel Dynamics, Nucor Corporation and U.S. Steel, have formally petitioned the U.S. Department of Commerce (DOC) and the International Trade Commission (ITC) to launch an anti-dumping investigation into imports of corrosion-resistant flat products (CORE).These products, which include a range of steel materials used widely in construction, automotive manufacturing and other critical industries, are being imported from 10 countries at prices the petitioners allege are unfairly low. The countries identified in the petition are Australia, Brazil, Canada, Mexico, the Netherlands, South Africa, Taiwan, Turkey, the United Arab Emirates (UAE) and Vietnam.U.S. probes CORE imports from 10 countries, including VietnamThe complainants argue that imports from these countries have caused substantial damage to the U.S. domestic industry and that the situation will worsen if no action is taken. Additionally, investments by producers in these countries to increase galvanized steel production capacity have raised concerns about the potential for increased exports to the United States.Barry T. Schneider, President and COO of Steel Dynamics, stated, "Between the first half of 2023 and the first half of 2024, CORE imports from the ten subject countries increased from less than 1.25 million tons to almost 2 million tons, a significant increase of 57%. The surge in unfair CORE imports has had a substantial negative impact on the volumes, prices and profitability of the domestic steel industry, necessitating these cases."The products in question fall under the following Harmonized Tariff Schedule of the United States (HTSUS) codes: 7210.30.0030, 7210.30.0060, 7210.41.0000, 7210.49.0030, 7210.49.0040, 7210.49.0045, 7210.49.0091, 7210.49.0095, 7210.61.0000, 7210.69.0000, 7210.70.6030, 7210.70.6060, 7210.70.6090, 7210.90.6000, 7210.90.9000, 7212.20.0000, 7212.30.1030, 7212.30.1090, 7212.30.3000, 7212.30.5000, 7212.40.1000, 7212.40.5000, 7212.50.0000, 7212.60.0000, 7225.91.0000, 7225.92.0000, 7226.99.0110, and 7226.99.0130.In July of this year, the Steel Manufacturers Association (SMA) and six other industry groups urged the House of Representatives to include the Playing Field 2.0 Act in the upcoming legislative package aimed at protecting the United States from unfair trade practices by China.The petition underscores the necessity of implementing measures to safeguard the domestic steel industry from the increasing influx of imported steel products, ensuring fairness and sustainability for U.S. steel producers.The official announcement regarding this anti-dumping investigation has not yet been released. Readers are encouraged to follow AG真人游戏 Steel for the latest updates on developments in the international and Vietnamese steel markets. 

On May 14, 2024, U.S. President Joe Biden announced an increase in tariffs on $18 billion worth of imports from China, including electric vehicles (EVs), solar panels, semiconductors, iron and steel, in a bid to protect American industries. The tariff increase is expected to significantly impact Chinese exporters, prompting U.S. importers to look for cheaper alternative sources, such as Vietnam.New US tariffs on Chinese imports open doors for Vietnam's booming export marketOn May 22, 2024, the US Trade Representative (USTR) announced proposed amendments to tariffs on Chinese imports, effective from August 1, 2024.ImportCurrent rateNew rateElectric vehicles (EVs)25%100%Semiconductors25%50%Solar cells25%50%Syringes and needles0%50%Some steel and aluminium products*鈥�7.50%25%Lithium-ion EV batteries7.50%25%Lithium-ion non-EV batteries*7.50%25%Battery parts*7.50%25%Some personal protective equipment (PPE)*鈥�7.50%25%Rubber medical and surgical gloves*7.50%25%Natural graphite and permanent magnets0%25%Other critical minerals0%25%Ship-to-shore cranes0%25%The US has imposed additional Section 301 tariffs on these products, including steel and aluminum products, electric vehicles, batteries and semiconductors. These products will face significant tax increases, such as for electric vehicles, quadrupling from 25% to 100%. Other categories such as steel and aluminum products were previously not subject to tax or only 7.5% but will soon be subject to import tax of up to 25%.US proposes steep tariff hikes on Chinese imports, effective August 1, 2024Thus, China is currently subject to both Section 232 and Section 301 tariffs. This means that steel exports from China to the US are subject to a tax rate of up to 50%. Meanwhile, steel from Vietnam is only subject to a 25% tax rate under Section 232. This difference creates a clear competitive advantage for the Vietnamese steel industry in the US market.In response to the increased tariffs on Chinese steel, U.S. steel importers are actively looking for alternative sources of supply and Vietnam has emerged as an ideal choice with many of the following advantages:High-quality productsVietnamese steel is produced according to international standards ASTM, EN, JIS,..., achieving certifications for quality and environmental management systems such as ISO 9001, ISO 14001, OHSAS 18001,... These certifications not only confirm product quality but also ensure a safe and environmentally friendly production process.Large steel mills in Vietnam such as Hoa Phat, Hoa Sen, Formosa,... use modern production lines and advanced technology from the world's leading metallurgical brands like Danieli, Tenova, ... Currently, Vietnam has become self-sufficient in raw material input (HRC), so 100% of products can prove their origin, meet strict international standards, ensuring reliability and stability for construction and industrial projects in the US.Vietnamese steel ensures high quality and reliability for US construction and industrial projectsCompetitive priceWith a 25% tariff under Section 232, Vietnamese steel has a more competitive price than Chinese steel in the current context. This is also the reason why more and more American importers are contacting and looking for Vietnamese steel sources to optimize costs.Favorable geographical locationVietnam is strategically located in Asia, near the world's  major maritime routes, including routes connecting Southeast Asia with North America and Europe. This helps reduce transportation costs and delivery times, a crucial factor in maintaining a stable supply chain.The shipping time from Vietnam to major U.S. ports like Los Angeles, Long Beach, New York, Savannah,... only takes about 30-45 days depending on the specific conditions and schedule of each shipment.Compared to other countries in the region, transit time from Vietnam to the US is equivalent or even shorter due to the development of direct maritime routes and modern port infrastructure in Vietnam. This helps optimize the supply chain and ensure stable supply for U.S. importers.Vietnam's strategic location and efficient maritime routes ensure faster and cost-effective delivery to major US portsStable supplyVietnam has many modern steel plants, ensuring continuous supply capability and meeting large demands from international partners. According to the Vietnam Steel Association (VSA), Vietnamese crude steel output in 2023 reached about 24 million tons, up 8% compared to 2022. Construction steel output reached 11 million tons, up 9% over the previous year. It is forecasted that in 2024, finished steel production could reach 29 million tons, a 6.7% increase compared to 2023. In the first three months of 2024, Vietnam's steel exports reached 3.23 million tons, valued at $2.39 billion, a 40.6% increase in volume and 38.9% increase in value compared to the same period in 2023, with major export markets including the U.S., Italy, and Cambodia.The increase in tariffs on Chinese steel not only impacts trade relations between the US and China but also creates significant changes in the global steel market, opening up opportunities for steel manufacturers in other countries, especially Vietnam. Currently, Vietnam is one of the world's largest steel producers with crude steel output ranking 12th globally. In particular, AG真人游戏 Steel has many years of experience in exporting steel to the US, knowledgeable about products, markets, tariff policies, logistics,... helping importers significantly optimize the time and effort of purchasing Vietnamese steel. Contact AG真人游戏 Steel via Email: [email protected] or Whatsapp: +84 769 112 358 to receive detailed advice from our team of experts!

By the end of 2023, the United States had investigated 59 trade defense cases against Vietnamese exports, accounting for nearly 25% of the total number of foreign cases investigating Vietnamese exports. In particular, the United States initiated an investigation and made official conclusions regarding all types of iron and steel. Importers can refer to the full and latest details in the article by AG真人游戏 Steel.US investigated 59 trade cases on Vietnamese exports, mainly iron and steelU.S. investigation on anti-circumvention of Vietnamese round stainless steel wire rodOn February 1, 2022, the United States published a gazette to initiate an investigation into anti-dumping tax evasion on round stainless steel wire rod imported from Vietnam due to allegations of evasion of trade defense taxes being applied to Korea. On May 26, 2023, the United States published its final conclusion, according to which Vietnam did not evade taxes.U.S. Concluded Vietnam Did Not Evade Anti-Dumping Taxes on round stainless steel wire rodU.S. investigation on anti-circumvention of of Vietnamese steel pipe productsOn August 4, 2022, the United States published a gazette to initiate an investigation into anti-dumping and anti-subsidy duty evasion on a number of steel pipe products imported from Vietnam due to allegations of trade defense tax evasion being applied to China, Taiwan, South Korea, and India. On August 9, 2023, the United States announced its final conclusion, concluding circular welded carbon steel pipes and circular welded non-alloy steel pipe imported from Vietnam did not evade tax being applied to Taiwan-China due to not using HRS originating from Taiwan-China.For the remaining steel pipe products, on November 9, 2023, the United States published its final conclusions in the Official Gazette, stating that Vietnamese businesses have evaded anti-dumping and anti-subsidy taxes that the United States was applying to China, Taiwan (for some HS codes), Korea and India. However, the United States allows Vietnamese exporters to participate in the self-certification mechanism not to use HRS originating from the above accused countries to be exempted from measures (except for non-cooperative enterprises, providing complete information during the investigation).Vietnamese steel pipe products faced US trade duty evasion allegationsU.S. investigation on anti-circumvention of stainless steel plate and stripOn May 15, 2020, the United States published a gazette initiating an investigation into anti-dumping and anti-subsidy tax evasion on stainless steel plates and strips imported from Vietnam due to allegations of defensive tax evasion being applied to China. On March 29, 2023, the United States issued the final conclusion of the case, accordingly, stating that stainless steel plate and strip products imported from Vietnam used raw materials of Chinese stainless steel. However, the United States allows Vietnamese exporters to participate in the self-certification mechanism to be exempt from measures (except for non-cooperative enterprises, providing complete information during the investigation).The US investigated anti-dumping, anti-subsidy evasion on Vietnam stainless steelAG真人游戏 Steel - consulting on policies and regulations for exporting Vietnamese steel to the United StatesAG真人游戏 Steel is a unit specializing in providing solutions for importing Vietnamese steel of diverse types, notably HRC, galvanized steel, color-coated steel,... to the U.S. market. We have more than 12 years of experience in the field of steel export to major markets such as the U.S., UK, Australia, Europe,... so we clearly understand the regulations and policies to help optimize time and effort for customers.In addition, AG真人游戏 Steel has a network connecting large mills in Vietnam such as Hoa Phat, Hoa Sen, Ngoc Minh, SeAh, Bluescope,... providing the highest quality products. As one of the strategic partners of Vietnamese factories, AG真人游戏 Steel always enjoys many attractive preferential policies to offer the best prices to importers.Above are the cases of the United States investigating trade remedies against Vietnamese steel in 2023, latest updated by AG真人游戏 Steel. Understanding the regulations and procedures for importing Vietnamese steel is challenging for many U.S. importers. Meanwhile, AG真人游戏 Steel can assist importers in solving all issues quickly and simply. Please contact us via Whatsapp: +84 76 911 2358 or Email: [email protected] for the best support.

A new crisis is brewing in the Red Sea, one of the world's vital trade routes, with the potential to disrupt supply chains and drive up oil prices and inflation. This comes at a time when economic growth is slowing down.Red Sea - Important Maritime TransportationAs one of the crucial maritime routes, it accounts for approximately 15% of global maritime transportation volume. The Red Sea shows no signs of easing tensions, especially as recent Houthi warnings indicate a potential expansion of their targets in the region if the United States launches a campaign against their forces.The mentioned developments come shortly after Washington announced the formation of a coalition comprising various countries, including the United Kingdom, France, Italy, Spain,... to address Houthi attacks on shipping in the Red Sea. Simultaneously, this coalition has deployed military assets to counter missile and drone attacks.Conflict in the Red Sea and the Risk of an International Transportation CrisisThe Suez Canal is currently the shortest maritime route connecting Asia and Europe, accounting for approximately 15% of global maritime traffic. The conflict in the Red Sea has a significant impact on the global transportation and trade situation. This route is closely linked to the Suez Canal, meaning that ships avoiding the Red Sea also have to steer clear of the crucial route through the Suez Canal. This canal is one of the seven critical chokepoints for global transportation.The drone and missile attacks by Houthi forces in Yemen on vessels navigating the Red Sea are forcing global shippers to reroute their journeys around the Cape of Good Hope in Southern Africa. This redirection extends the sea travel time by an additional 10鈥�14 days. The harsh weather and frequent rough seas at the Cape of Good Hope and the Mozambique Channel result in faster fuel consumption, leading to increased fuel costs. Additionally, vessels face numerous challenges, including fuel replenishment, cargo restocking, customs issues, overloading and inadequate infrastructure at African ports.These wars are creating a significant risk of disruption to transportation activities through the Suez Canal and the Red Sea, leading to increased shipping costs for various types of vessels, including tankers, container ships, and bulk carriers, thereby indirectly supporting the recovery of oil prices. Additionally, ships passing through the Red Sea are facing significantly higher conflict-risk insurance premiums, with current fees having surged by fivefold. Meanwhile, many transportation experts believe that disruptions in routes may lead to a situation where ships are in the wrong position and containers are misplaced, resulting in port congestion.In the face of the complex developments in the Red Sea and economic risks, the United States, the European Union (EU), the North Atlantic Treaty Organization (NATO) and several countries, including Yemen, have issued a joint statement condemning Houthi interference in maritime rights and freedoms.If the 鈥淩ed Sea crisis鈥� persists for only a short period, consumers may not notice much, except for possibly higher energy prices. However, if the situation prolongs, it not only affects maritime transportation but also poses a risk of uncontrollable inflation impacting the world.

As one of the first steel conglomerates in the United States, US Steel has played a crucial role in the development of the country's steel industry. However, currently, US Steel has been acquired by Japan's Nippon Steel for $14 billion USD.US Steel was founded in 1901 by some of America's most prominent tycoons, including Andrew Carnegie, J.P. Morgan, and Charles Schwab. The company played a vital role in the recovery of the American industry after the Great Depression and World War II. In 2022, US Steel ranked as the 24th largest steel producer globally and the second-largest in the United States, following Nucor Corporation.In recent times, the stocks of US Steel, based in Pittsburgh, have been performing poorly after several quarters of declining revenue and profits, making the company an attractive acquisition target for competitors. On December 18, 2023, Nippon Steel announced an agreement with US Steel to acquire the company for $14.1 billion USD. This deal positions Nippon Steel to expand global crude steel capacity toward the goal of 100 million tons. This strategic move comes after Nippon Steel outbid competing rivals, including Cleveland-Cliffs Inc., in an auction.According to the World Steel Association, in 2022, Nippon Steel's production of high-quality crude steel reached 44.37 million tons, ranking fourth globally. Therefore, the acquisition of US Steel will elevate Nippon Steel to the third position in global steel production. This represents a significant step for Nippon Steel in its efforts to strengthen its position in the steel industry and enhance production capabilities on a global scale.Accordingly, after announcing the acquisition of the US Steel Group, Nippon Steel's stocks experienced a nearly 5% decrease. The stock decline occurred as shares of the steel manufacturer based in Tokyo opened with an excess of sellers, leading to a trading price of around 3,085 yen, marking a 4.7% decrease compared to the previous day's closing value.The acquisition takes place at a time when the steel industry is facing several challenges, including fluctuating demand and the need for technological advancements to reduce carbon emissions. Nippon Steel's move to acquire US Steel is expected to create a synergistic strength that could lead to more efficient production and help ensure a more stable supply of raw materials for Nippon Steel.US Steel has announced that the transaction with Nippon is expected to conclude in either the second or third quarter of 2024, depending on regulatory approval. However, the Committee on Foreign Investment in the United States, an agency that carefully examines transactions to identify potential national security risks, is expected to reassess this deal. If the agreement is not approved in this case, Nippon will owe US Steel USD 565 million.Here is the latest information on Nippon Steel's acquisition of the US Steel plant in the United States. However, there is still no official result in this matter. Stay tuned to AG真人游戏 Steel, as we will provide the most up-to-date and accurate information on this transaction for our readers.

After a thorough investigation, the US Department of Commerce has concluded that steel pipe products imported from Vietnam did not evade the anti-dumping and countervailing duties that the US applies to similar goods from Taiwan.It's known that on August 4, 2022, the US Department of Commerce issued a notice to initiate an investigation into the circumvention of trade defense duties on certain steel pipe products. Primarily, products falling under HS codes 7306.61 and 7306.30 were imported from Vietnam, with allegations that Vietnam imported the main raw material for producing the steel pipe hot-rolled coil from China, Taiwan, South Korea, and India, then performed simple processing to manufacture the steel pipes, which were subsequently exported to the US. This process was purportedly aimed at evading the corresponding anti-dumping and countervailing duties that the US applies to these countries and territories.This investigation was conducted following suspicions that goods from Vietnam were being sold at lower prices to evade anti-dumping and subsidy tariffs. The investigation focused on determining whether these steel pipe products were manufactured at lower costs due to non-transparent subsidies.After conducting an investigation and gathering information from relevant parties, the United States recently reached a significant conclusion regarding the anti-avoidance duty investigation related to the import of steel pipes from Vietnam. According to the announcement from the US Department of Commerce, following a thorough investigation, it was concluded that steel products imported from Vietnam did not evade the anti-dumping and countervailing duties that the US applies to similar items from Taiwan. This determination was based on Vietnam not using hot-rolled coil steel from Taiwan to manufacture the steel pipes.For other steel pipe products also under investigation for anti-avoidance measures (initiated on July 29, 2022), on July 20, 2023, the US Department of Commerce announced an extension of the deadline for issuing the final determination until November 2, 2023. Recently, on November 9, the US Department of Commerce published the final determination on the case. In this final determination, the US Department of Commerce maintained the same conclusion as the preliminary finding issued in April 2023.However, the Ministry of Industry and Trade noted that the US Department of Commerce continues to allow Vietnamese exporters (except for companies determined by the US Department of Commerce to not fully cooperate during the investigation) to participate in the mechanism of self-certification, confirming that they do not use hot-rolled coil steel originating from China, Taiwan, South Korea or India to be exempt from measures.In fact, the US investigation into anti-avoidance duties isn't just a message about fair trade management, it's also evidence of the tension within international trade relations, particularly amidst escalating trade tensions between nations. This also presents new challenges and opportunities for steel pipe manufacturing enterprises in Vietnam to adjust their business strategies, enhance fair competition advocacy, and comply with international trade regulations.Given these developments, understanding and adhering to international regulations, as well as fostering a fair competitive environment, have become crucial factors for businesses to thrive and adapt in an increasingly volatile international market.