It's over! 18 Countries Under New Taxes By US!

 According to US Secretary of Commerce Wilbur Ross, the United States imposes new tariffs on $ 1.96 billion worth of aluminum sheet products from 18 countries due to dumping of the product.

The tariff was immediately imposed on countries including Germany and Bahrain. Similarly, Brazil, Croatia, Egypt, Greece, India, Indonesia, Italy, Oman, Romania, Serbia, Slovenia, South Africa, South Korea, Spain, Taiwan and Turkey are also affected.

He added that the US International Trade Commission will make its final decision in February 2021.

He further revealed that China was not included in the list as US tariffs had been imposed on Beijing's aluminum products, causing China's excess capacity to drive production in other countries and resulting in dumping in the United States.

In addition, the largest tariff rates will be imposed on Germany with 52% to 132% followed by Bahrain at a single digit rate.

Meanwhile, the increasing use of certain products in the US during the outbreak of the Covid-19 epidemic, such as recreational vehicles and ships has increased the importance of aluminum sheet prices.