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U.S. steel production volume increases by 10% or more in 2024?
5
Resolution / Starting Odds
Yes • 50%
No • 50%
U.S. Department of Commerce and industry reports
Story
Biden Proposes Tripling Chinese Steel, Aluminum Tariffs in Pittsburgh
Apr 17, 2024, 09:09 AM
U.S. President Joe Biden is set to advocate for a significant increase in tariffs on Chinese steel and aluminum, proposing a tripling of the current rates from an average of 7.5% under Section 301. This policy move, announced during his visit to Pittsburgh in an election year, aims to bolster the American steel industry and secure union support in the crucial swing state of Pennsylvania. The proposed tariffs, part of a broader trade strategy, are intended to protect U.S. producers from the influx of cheaper foreign imports. The administration is also considering a new 25% tariff on specific Chinese steel and aluminum products and has initiated a formal Section 301 probe into China's shipbuilding industry.
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Increase Production • 33%
Maintain Current Production • 33%
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