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Global steel trade: countries ranked by exposure to Section 232
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Report summary
We believe that steel products from South Korea (3.4Mt), Japan (1.7Mt), Vietnam (0.7Mt), Thailand (0.4Mt), South Africa (0.3Mt), Australia (0.3Mt), UAE (0.3Mt), and Argentina (0.2Mt) are most at risk of displacement from the US market. These countries are the least likely to be exempted from tariffs and their steel exports have the highest displacement potential. If the EU fails to negotiate a suitable exemption as a trading block, then US steel imports from Greece, Portugal, the Netherlands, Spain, Luxembourg and Slovakia (combined 1.5Mt) are also at risk.
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