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Trump Trade War - API urges White House to end tariffs

Steel News - Published on Thu, 10 Jan 2019

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SP Global reported that US steel tariffs, the trade war with China and a prolonged federal government shutdown could each threaten to slow the growth of the US oil and natural gas industry. American Petroleum Institute President and CEO Mr Mike Sommers said there's no question the 25% tariff imposed on steel imports in 2018 has prolonged the Permian Basin's pipeline constraints. Mr Sommers said “API is working closely with the Trump administration, including US Trade Representative Robert Lighthizer and the Department of Commerce, on the trade and tariff issues and would engage the new Congress if those conversations don't prove fruitful. It's not good for business, and we're going to continue to talk to everyone. Steel tariff was preventing at least one Permian pipeline from being completed.”

Plains All American estimated the tariff increased the cost to build the 585,000 b/d Cactus II crude pipeline by USD 40 million. The Permian-to-Corpus Christi line is expected to start up late this year.

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Posted By : Joykumar Irom on Thu, 10 Jan 2019
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