text: US withdrawal from TPP to impact steel sector — Wood Mackenzie - MINING.COM
  US withdrawal from TPP to impact steel sector — Wood Mackenzie
  Cecilia Jamasmie | January 25, 2017 | 7:05 am Energy Asia China Europe Coal Iron Ore
  Steel in Thailand warehouse before shipment. (Image: SARIN KUNTHONG | Shutterstock)
  US President Trump's decision to leave the Trans-Pacific Partnership free-trade deal earlier this week will have little immediate impact on the country's steel industry, though the long-term effects are likely to be significant, Wood Mackenzie is warning.
  The kind of steel the US has traditionally exported to the TPP countries is high in value–added, the kind of product that helps keeping the high-cost local steelmaking business afloat.
  What's more critical, the analysts argue, is that the kind of steel the US exported to the TPP countries was high in value–added, which is exactly the kind of product that helps to keep the high-cost US steelmaking business afloat.
  "Ultimately, NAFTA plays a more important role for the sector," they say, adding that it's important to keep in mind that US steel and manufacturing industries are heavily reliant on imports.
  "Weaning itself off 'imported steel' will put pressure on manufacturers' costs and ultimately the US consumer will suffer," Wood Mackenzie concludes.
  Wolfgang Von Strock
  The "Village Idiot" can only make a bed and sell you a room, a circus show, or a cheap bottle of tap water in a fancy bottle. Are people really that stupid?