US imposes 25% tariff on imported steel

The US Government officially signed proclamations for a 25 per cent  tariff on imported steel pursuant to Section 232(b) of the Trade expansion Act 1962, said Al Jazeera Steel Products in its MSM filing on Sunday.

The tariff will apply to steel imported from all countries except Canada and Mexico, and gets into effect from March 23, 2018. Al Jazeera Steel said it is following the proceedings closely and working with their legal counsel for possible preventive measures.

The company due to its diversified market spread, and product portfolio does not expect any significant impact in their International business volumes.