Canada is banning the import of Russian steel and aluminum as part of its sanctions regime. Deputy Prime Minister Chrystia Freeland says this will help undermine Moscow’s ongoing invasion of Ukraine. The Department of Industry says Canada imported $208 million in steel products from Russia in 2021 and $79 million last year. Canada also imported…
Aluminium Hits Record Top; Oil, Wheat at Multi-Year Highs on Supply Woes
SINGAPORE—Commodity markets extended their bull runs on Thursday, with aluminium, coal and palm oil all hitting new records while crude oil and wheat scaled multi-year highs as Russia’s invasion of Ukraine disrupted global raw material flows. Russia’s stature as a top supplier in oil, gas, metals, grain and shipping markets has meant that the harsh…
Biden Hails Arrangement Between US and EU That Will Curb ‘Dirty’ Chinese Steel Imports
President Joe Biden on Sunday hailed the joint global sustainable steel arrangement between the United States and European Union that would ease some tariffs on steel and aluminium, and curb “dirty” Chinese steel imports, calling it a “new era of transatlantic cooperation.” In a joint address at a press conference in Rome with European commission President Ursula von der Leyen,…
Biden Hails US–EU Arrangement That Will Curb ‘Dirty’ Chinese Steel Imports
President Joe Biden has hailed the joint global sustainable steel arrangement between the United States and European Union that would ease some tariffs on steel and aluminum and curb “dirty” Chinese steel imports, calling it a “new era of trans-Atlantic cooperation.” In a joint address at an Oct. 31 press conference in Rome with European Commission President Ursula von der…
US, EU Reach Deal to Settle Rift Over Steel and Aluminum Tariffs
The United States and European Union (EU) have reached a deal to settle the rift over tariffs on steel and aluminum imports from the EU. National security adviser Jake Sullivan, U.S. Trade Representative Katherine Tai, and Commerce Secretary Gina Raimondo announced the agreement Saturday. The Article 232 tariffs won’t be removed entirely but some quantity…
EU to Suspend Planned Tariffs on Chinese Aluminium, Lobby Group Says
BRUSSELS—The European Union is set to impose duties on aluminium from China in October, only to suspend them for nine months, the EU industry association said on Wednesday, adding that this would threaten jobs and send the wrong signal to Beijing. The European Commission launched an investigation into aluminium flat-rolled products, which are used in…
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