AIIS: U.S. steel exports rise in February

The United States exported 827,559 net tons of steel in February, a 1.1 percent increase from January and a 6.2 percent jump from February 2016.    The American Institute for International Steel (AIIS) said Monday the United States exported 827,559 net tons of steel in February, a 1.1 percent increase from January and a 6.2 percent jump from February 2016.

   February U.S. steel exports to:
     • Mexico totaled 342,318 net tons, up 3.1 percent from January and 15.8 percent from February 2016;
     • Canada stood at 394,313 net tons, down 3.2 percent from January, but nearly unchanged from February 2016;
     • And the European Union reached 30,462 net tons, up 61.4 percent from January and almost 71 percent higher than February 2016.

   Overall, U.S. steel exports during the first two months of 2017 rose 5.4 percent from the corresponding 2016 period to 1.65 million net tons. The AIIS said the increase largely resulted from a 13.5 percent jump in exports to Mexico, further solidifying that free trade with Mexico is an important part of the U.S. economy. Mexico accounts for 40 percent of steel exports from the U.S. and is the nation’s third-largest trading partner, importing $236 billion in goods each year.
   “This is a clear reminder of the importance of free trade and the damage that would be wrought on the American economy by pursuing policies in opposition to that, such as abandoning the North American Free Trade Agreement. It appears that President Donald Trump is easing off his threats to NAFTA, but he remains committed to tightening the steel trade,” the AIIS said. However, “Trump has admirably adjusted his positions on several issues as he has learned more about them since entering the White House, so we continue to hope that, as both the president and a businessman, he will come to realize the poor economics behind protectionism.”