The new barriers by the U.S. government makes it almost impossible to export products to that country.
SEATTLE (Scrap Monster): Lisbon, Portugal-based The International Rebar Producers and Exporters Association (IREPAS) has released its Short Range Outlook Report.
The paper claims that a spiral of tariffs and trade restrictions appears to be overwhelming the global market for long-term goods. The current state of unpredictability has made conducting business challenging. According to the survey, trade unrest is shown by the tariff barriers put in place by different nations.
Because of the uncertainties the U.S. administration has generated, the markets are a little lost. Market participants' plans may alter quickly as a result of the U.S. administration's erratic judgments. Exporting goods to that nation is nearly impossible due to the new restrictions imposed by the US government.
ALSO READ:
Long Steel Market Demand is at Crisis Levels, Says IREPAS
IREPAS Announced Bleak Outlook for Long Steel Products
It would be fantastic if the Chinese government kept its pledge to cut production, according to IREPAS. However, given the nation's dire economic circumstances, exports are probably going to become more significant. The country's unimpressive domestic prices can potentially increase the appeal of exports.
The EU is now vulnerable to increased imports due to a lack of effective defenses against growing imports. The report urges the European Union to revise its safeguards as needed.
Additionally, the IREPAS research raised grave worries regarding the U.S. rebar market. According to the report, the nation's overall steel industry has gotten worse.
Member