Final Thoughts

President Trump has announced that he intends to increase the Section 301 tariffs on Chinese finished goods to the full 25 percent by the end of this week (current rate on first batch is 10 percent). He also intends to increase the number of products to be hit. His statement was the Chinese were dragging their feet in the negotiations and enough time has passed. No more extentions. Lewis Leibowitz is working on an article on this subject, but it was not ready when we went to publish this evening. Stay tuned. This is an important development for the steel industry.

My next round of travel adventures begins this week as I head to Chicago where I am speaking to Bank of America Merrill Lynch on Wednesday and then attending the Metals Industry Boy Scout Dinner on Thursday. If you would like to speak to me while I am in Chicago, please send me an email.