AISI Applauds US-China Tariff Agreement

WASHINGTON, D.C. - Kevin Dempsey, president and CEO of the American Iron and Steel Institute, today applauded the agreement reached by the U.S. and China to temporarily reduce tariffs, eliminate retaliation and retain a U.S. baseline tariff on China while continuing future trade discussions. Dempsey highlighted the particular significance of the agreement to the American steel industry:

"We applaud today's agreement and thank President Trump, Secretary Bessent and Ambassador Greer for their leadership in reaching this agreement, which retains important trade measures for steel. American steel producers are all too familiar with the detrimental effects that unfair trade practices by China and other countries have had on domestic industries and their workers, and are pleased that measures to address these unfair trade practices will remain in place," Dempsey said.

"Chinese steel production remains at record high levels even as steel demand in that country has been declining. Chinese steel exports have more than doubled since 2020, surging to 118 million metric tonnes in 2024 - more than total North American steel production - while China's steel imports have dropped by almost 80 percent. And, through its Belt and Road Initiative, the Chinese government is encouraging cross-border investments by Chinese steel producers which are resulting in additional export-oriented steelmaking capacity outside of China - particularly in Southeast Asian countries like Indonesia and Vietnam. Accordingly, AISI appreciates that the Section 232 steel tariffs and the Section 301 tariffs on steel from China will remain fully in effect under this new agreement. This is significant for our industry, which is essential to America's national and economic security," Dempsey concluded.

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Contact: Lisa Harrison

202.452.7115 / lharrison@steel.org

AISI serves as the voice of the American steel industry in the public policy arena and advances the case for steel in the marketplace as the preferred material of choice. AISI's membership is comprised of integrated and electric arc furnace (EAF) steelmakers, steel pipe and tube manufacturers, and steel processors and fabricators reflecting the production and distribution of both carbon and stainless steels which are critical to the everyday lives of all Americans - including national security, roads and bridges, buildings, the electrical grid, clean energy technologies and the automotive market. AISI also represents associate members who are suppliers to or customers of the steel industry. For more news about steel and its applications, view AISI's website at www.steel.org. Follow AISI on Facebook, LinkedIn, Twitter (@AISISteel) or Instagram.