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Steel in sentence

896 examples of Steel in a sentence

If an American company cannot obtain steel inputs domestically, it must either pay the tariff or apply for an exemption (“exclusion”).
If it goes the latter route, it must state the quantity and strength of steel that is needed, its chemical composition, the dimensions of the product (pipes or sheets, for example), and so forth; and it must submit a separate application for each type of steel, even if the only difference is in dimensions.
Moreover, each application must demonstrate that the applicant has been unable to obtain the steel from domestic sources.
If no producer steps forward to furnish the needed steel, the applicant is supposed to receive a one-year exemption within seven days after the public-review period.
The Trump administration initially anticipated that there would be about 4,500 requests to exempt steel products.
Yet by November 1, 31,527 had been submitted, along with 14,492 objections from steel producers.
As of November 2, the price of hot-rolled steel in the US was 33.4% higher year on year.
Back in 2002, when the US steel industry persuaded President George W. Bush to slap tariffs of 8% to 30% on imported steel, there were about 187,000 steelworkers in the US.
As a result of those new levies, an estimated 6,000 jobs were created in the US steel industry, but around 200,000 jobs were lost in associated steel-consuming industries.
Today, there are around 80,000 steel workers, and millions more working in steel-consuming industries.
According to a study published in March, Trump’s steel and aluminum tariffs may create 33,400 additional jobs in the metals sector, but will destroy 180,000 jobs across the rest of the economy.
And while they lose market share, both at home and abroad, the US steel industry’s competitiveness will also decline, because it is being sheltered from foreign competition.
South Korea, which has agreed to adopt “voluntary export restraints” in exchange for an exemption from US steel tariffs, is asking its domestic producers’ association to allocate export quotas among its members.
But US customs authorities will still have to incur the cost of monitoring all steel imports to ensure that they are not misclassified.
Trump’s steel tariffs are even more mind-boggling when one considers that there is already overcapacity worldwide, much of which can be traced back to China.
Rather than pursuing a multilateral solution through the World Trade Organization, Trump is instead trying to increase US steel production, which will only add to the glut.
Moreover, Benn Steil and Benjamin Della Rocca of the Council on Foreign Relations find that cost increases resulting from the steel tariffs have already put as many as 40,000 US auto industry jobs at risk.
All told, Trump’s steel tariffs will neither reduce the US current-account deficit nor create more net jobs.
In late 2005, Mittal Steel, the world’s largest steel company, signed a $900 million deal with Liberia’s Transitional Government to mine iron ore, which many claim allowed Mittal to opt out of human rights and environmental law.
Why not the auto and steel industries, or any of the other industries that have suffered downturns in recent years?
Government rationed steel to users rather than selling it at a market price.
The bicycle producer could not get the amount of steel needed at the official price.
However, there was a private market in finished or unfinished steel products.
So the bicycle manufacturer supplemented his rations through buying semifinished steel products and melting them down - hardly an efficient way to convert iron ore and coal into bicycles.
Regional identity, cultural diversity, and traditional arts and customs have been buried under concrete, steel, and glass all over China.
Providing a "development shortcut" that leads directly to photovoltaic or nuclear electricity generators, not coal-fired power stations, high-performance materials, not steel mills, and cellular telephone networks, not expensive fixed-line systems, would clearly benefit us all.
Ukraine, in particular, is in a perilous state, but financing public works that would create jobs in eastern Ukraine, where the steel industry is in distress, could make a major difference both politically and economically.
For example, by imposing an import tariff on, say, steel, the United States can reduce the prices at which Chinese producers sell their products.
Even though the US does impose import duties on Chinese steel (and many other products), the motive hardly seems to be to lower the world price of steel.
Politics seems a more promising avenue: US trade policies in steel and aircraft are probably better explained by policymakers’ desire to help those specific industries – both of which have a powerful lobbying presence in Washington, DC – than by their overall economic consequences.
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