Cheap Chinese aluminum threatens US national security
The US is now down to just one domestic manufacturer of a critical material used to make jets and armoured vehicles
Washington
CHEAP Chinese steel has upset US steel producers for years, as Chinese manufacturers have unloaded excess capacity on world markets at unbeatably low prices. The Trump administration has even invoked the supposed threat to national security from cheap imports to threaten trade restrictions on steel imports.
But the United States has plenty of steel-manufacturing capacity to meet its defence needs. What's genuinely threatened, however, is another sector altogether: Aluminum. A glut of cheap Chinese aluminum has done more than hollow out that industry; it may also actually be jeopardising national security.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Energy & Commodities
Gold holds steady as investors focus on US Fed meeting
Chevron CEO expects ExxonMobil arbitration resolved in coming months
Oil falls more than US$1/barrel on Middle East peace talks, US rate cut doubts
Diamond giant De Beers is in the shop window, but the potential buyers are few
China State Shipbuilding to build 18 LNG ships for QatarEnergy
Shell earns US$1 billion a year from US crude trading, court filing shows