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Published : 18-08-2023 - Duration : 00:41 - View : 15
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The Biden administration has announced new tariffs on can-making metal imported from China, Germany, and Canada. The move follows an investigation by the Commerce Department which found that steelmakers from these countries sold their tinplate products in the U.S. at unfairly low prices, justifying the imposition of new import duties. The investigation was launched in response to a petition from the United Steelworkers union and Cleveland-Cliffs, a U.S. tinplate plant owner, alleging that cheap steel imports harmed domestic steelmakers and jobs. Food companies fear the new tariffs could increase canned food prices by up to 30%. The Biden administration maintains that the narrower tariff scope would have a smaller consumer impact than estimated.
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