‘America first’President Donald Trump has vowed to bring manufacturing jobs back to the US, if necessary by imposing heavy tariffs on imported goods. However, the plan runs counter to long-standing global consensus on free trade outlined in WTO rules. Meanwhile, both the US and the EU have sought to protect domestic steelmakers in recent months by slapping tariffs on some Chinese steel products. China makes more than half the world’s steel but a slowdown in its economy and sagging global demand has left the industry with huge excess capacity. It has been accused of dumping its production on world markets, sinking prices and violating international trade agreements.

Source: Daily News Egypt March 24, 2017 21:33 UTC