US trying to milk a bull with steel tariffs
It is irresponsible and groundless for some people in the United States to attribute the difficulty the US steel industry faces to China's overcapacity and dumping. Indulging in turning China into a scapegoat without looking into problems intrinsic to the US steel industry is nothing but an ostrich policy. To impose punitive tariffs on China's steel exports will be to no avail in revitalizing the steel industry in the US.
The decline of the US steel industry's competitiveness is an undeniable fact. But it is because of the shrinking of domestic demand, the rise of production costs in the US and the slow technological and equipment upgrading.
That the steel industry is no longer a pillar industry is a result of the evolution of its economic structure.
