US Steel Imports & Exports

[Joanne98]

Canada and China’s Annual $25 Billion Iron and Steel Trade With USA

US trading partners have good reason to be concerned that Barack Obama’s “Buy American” push will severely reduce global trade in iron and steel.

In general, the American Recovery and Reinvestment Act will prohibit U.S. companies from importing foreign iron and steel for any U.S. infrastructure projects targeted by Barack Obama's $819 billion economic stimulus package.

American Iron and Steel Imports
Developing countries collectively known as BRIC (Brazil, Russia, India and China) exported US$11 billion worth of iron and steel to the United States in 2007.

Over that same period, other G7 member countries (Japan, Germany, UK, France, Italy and Canada) shipped $14.4 billion in iron and steel exports to America.

American Iron and Steel Exports
BRIC countries imported $3.4 billion worth of iron and steel from the U.S. in 2007, which would account for an American $7.6 billion trade deficit based on those commodities alone.

G7 countries imported $10.3 billion in iron and steel materials and products from the U.S. Therefore, America’s trade deficit in iron and steel with its G7 partners is relatively smaller at $700 million.

America’s Iron and Steel Overall Trade Deficit with BRIC and G7
In total, the U.S. exported $13.8 billion worth of the ferrous metals while importing total iron and steel worth $25.5 billion in 2007. America therefore generated a trade deficit of $11.7 billion for iron and steel, principally due to outsourced manufacturing overseas. That ferrous trade deficit could be balanced in the short-run if America can rejuvenate its domestic iron and steel industry as exclusive suppliers to U.S. infrastructure projects.

However, the following statistics show which countries will be most affected should America successfully block imports of iron and steel for upcoming infrastructure projects. These include initiatives to rebuild housing, roads, bridges, airports, water piping and military assets.

Continued>>
http://internationaltradecommodities.suite101.com/article.cfm/us_steel_imports_exports

We could always block the roads and ports!

[DJ13]

1. They arent afraid of losing business in rebuilding our infrastructure

It has no impact on their current sales what so ever.

What they're really afraid of is that the added business our steel producers might have in fulfilling the infrastructure contracts will result in a renewed steel manufacturing industry here in the US that could compete against them in the years to come.

Screw them, our country needs the jobs as much as their country does.