(Bloomberg) — President Donald Trump is cutting the cap on allowable steel shipments from Brazil, citing a slump in the U.S. market.In a proclamation issued late Friday, Trump amended a previous decision under the so-called Section 232 national security powers to lower the cap on allowable imports. The limits were set in 2018 as part of a deal between the nations to avoid tariffs that Trump applied to other countries.Trump cited a slumping American steel market, which has only accelerated amid shutdowns spurred by the coronavirus pandemic.“Imports from most countries have declined this year in a manner commensurate with this …read more
Source:: Yahoo Finance
