Tag: Aluminum

Trump Paid $2 Million by South Korean Company Facing Trade Investigation

Media Library

The lead investor in a South Korean aluminum company that has challenged Commerce Department penalties on certain exports from South Korea to the United States made a $2 million payment last year to President Trump’s holding company. The payment by the parent company, Base Group, was revealed for the first time in Mr. Trump’s annual financial disclosure form released in late June. The document offered only a cryptic explanation for the payment, stating that it was part of a “letter of intent” and a “nonrefundable development fee.” In statements to…

U.S. Declines to Renew USMCA Trade Deal, Starting 10-Year Clock to Expiration

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The Trump administration on Wednesday declined to renew the trade deal President Trump negotiated with Canada and Mexico in his first term, a pact that he later came to criticize. The decision, though expected, was an important symbolic move for a trade deal the United States is currently trying to renegotiate. The move started a decade-long clock to the deal’s expiration, unless the three countries unanimously decide to renew it. The text of the U.S.-Mexico-Canada Agreement required the three countries to jointly meet to review the agreement six years after…

European Steel Plan Shows Biden’s Bid to Merge Climate and Trade Policy

Chin@Strategy

WASHINGTON — President Biden has promised to use trade policy as a tool to mitigate climate change. This weekend, the administration provided its first look at how it plans to mesh those policy goals, saying the United States and the European Union would try to curb carbon emissions as part of a trade deal covering steel and aluminum. The arrangement, which American and European leaders aim to introduce by 2024, would use tariffs or other tools to encourage the production and trade of metals made with fewer carbon emissions in…