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How the steel industry has been affected by the trade war between the USA and China

Author

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  • Fakhrul Hasan
  • Md Rahat Hossen
  • Ahmed Ashfaque Shahbaz

Abstract

This research paper mainly focuses on how the US and Chinese steel industry has been affected by the trade war between the USA and China. One of the main election manifestos of Donald Trump was to reduce and eventually stop the steel import from China - the argument behind the manifesto was that "China dumps their cheap steel in the USA, resulting in the US steel industry to suffer." The implementation of the manifesto caused a significant number of relevant business organisations to shut down along with a significant number of US labourers to lose their jobs. As we use data from 2013 to 2019, we find that the US steel imports from China started to decline when Trump took the helm. The import decline continued until the end of 2019. As a result of the import decline, China also reacted strongly and reduced steel imports from the USA. Therefore, this trade war has had a direct impact on US steel exports, and the country has lost a substantial amount of their export revenue.

Suggested Citation

  • Fakhrul Hasan & Md Rahat Hossen & Ahmed Ashfaque Shahbaz, 2021. "How the steel industry has been affected by the trade war between the USA and China," International Journal of Critical Accounting, Inderscience Enterprises Ltd, vol. 12(4), pages 348-368.
    • Handle: RePEc:ids:ijcrac:v:12:y:2021:i:4:p:348-368
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    Cited by:

    1. Fakhrul Hasan & Mary Fiona Ross Bellenstedt & Mohammad Raijul Islam, 2023. "Demand and Supply Disruptions During the Covid-19 Crisis on Firm Productivity," Global Journal of Flexible Systems Management, Springer;Global Institute of Flexible Systems Management, vol. 24(1), pages 87-105, March.

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    Keywords

    the USA; China; steel; export; import.;
    All these keywords.

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