Washington, DC (The Hill) — The United States is using its newfound clout to exert influence over the global steelmaking industry.
The U.S. State Department’s Office of International Trade is pushing for foreign steelmakers to comply with U.N. trade agreements that would help the U.K. and Canada achieve their goals of reducing the trade deficit with China.
A senior State Department official said the Office of Foreign Assets Control (OFAC) is pushing to help Chinese companies that are making steel products in the U, especially in Europe.
The official said OFAC is also trying to help China and other developing nations that want to diversify their economies by promoting the use of low-carbon technologies.
The Trump administration has already ordered a halt to the imports of steel from China, and the State Department has urged all nations to stop buying American steel products, including products made by American companies.
The official, who spoke on condition of anonymity, told The Hill that the U’ts policy on steel imports has been a long time coming.
“We started this thing in 2014 with the goal of helping the U of A steelmakers, but it became more difficult to do,” the official said.
“In the years since then, the U ‘s been able to leverage more of the United States to help the steel industry in the West, particularly with regards to reducing their trade deficit, as well as to help develop low-impact, high-quality steel products for American consumers.”
The official added that the new policy was a reaction to China’s aggressive pursuit of energy and other resources and the continued dominance of Chinese steel companies.
“It is the first time the United State has taken action on this,” the State department official said, referring to the recent move by President Trump to impose a $110 billion tariff on Chinese steel exports.
The Office of Trade and Development is one of four U., S. agencies responsible for administering the U’s bilateral trade agreements.
It is also the lead agency for promoting trade.
The State Department said that OFAC had been in contact with foreign steel producers and is looking to help them achieve their targets, including making steel lighter.
The officials said the office is also working with other international trade agencies, such as the World Trade Organization, to help promote the use and deployment of low carbon technologies.
“To help our international partners achieve their trade objectives, the United Sates Office of foreign assets control (OFACE) has encouraged Chinese companies to use lower-carbon, environmentally friendly technologies,” the officials said in a statement.
“For example, the Office is working with China’s state-owned steel companies to explore and implement carbon-neutral steel manufacturing in their country.
Additionally, we have been working to encourage the use by the Chinese of low emissions technologies in their steel production, including using low-oxygen steel in the new high-capacity tank-like systems.”