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U.S. President Joe Biden's push to triple tariffs on Chinese steel imports strikes a mostly symbolic blow on an industry facing bigger concerns over faltering local demand and threats of even stronger blowback against China's surging exports. The state-backed China Metallurgical Industry Planning and Research Institute (MPI) forecasts a 1.7% drop in China's steel demand this year, following a 3.3% decline in 2023. While China's steel exports last year climbed more than a third to their highest since 2016 at 90.26 million metric tons, about 9% of its total crude steel output, just 598,000 tons of the shipments went to the United States.

United statesSouth koreaKevin baiJoe bidenWood mackenzieTony munroeTom hogueLuo tiejunDavid cachotDonald trumpResearch instituteWorld steel associationSteel associationChina metallurgical industry planningMiddle eastLange steel