Risk of global trade war mounts

U.S. President Donald Trump could announce tariffs as high as 20% on Chinese steel during the G20 summit, impacting Canada, Brazil and South Korea, in addition to the European Union, above all Germany

Steel imports to U.S.  
Million tonnes, % share of imports (2016)
Total: 30.1 million tonnes


9.4 31.2%
20.7 68.8%
Rest of world 55% Increase in 

U.S. price for steel after anti-dumping tariffs in 2016

9.4 31.2%

Canada 5.2 17.3%
Brazil 3.9 13%
South Korea 3.5 11.6%
Russia 1.8, 6%
Japan 1.5, 5%
Germany 1.2, 4%
China 0.9, 3%  Exports to U.S. down 63% since 2015
Mexico 2.7 9%

20.7million tonnes

Other U.S. trade demands

Natural gas: Europe should import natural gas from U.S. instead of Russia. Germany plans €8.8bn second pipeline to import Russian gas

Motor industry: Germany must lower tariffs on automobile imports from U.S. and ensure that America “obtain a larger share” of European market

Iran: Europe should impose new sanctions against Iran. France’s Total has signed €4.3bn deal to develop Iran’s South Pars gas field

Food: Europe should open its market to hormone-treated beef. If EU doesn’t act, U.S. will impose punitive tariffs of 100% on imports

Sources: Spiegel, International Trade Administration
Picture: Associated Press