Steel imports increased by 38 percent in 2014.
The Obama administration likes to talk about exports. What they should be talking about is imports – steel imports in particular.
The domestic steel industry is facing a surge of foreign imports. Steel imports increased by 38 percent in 2014, according to the U.S. Census Bureau. Already this year, there has been a 36 percent increase in steel imports from the same period in 2014.
So where is all this steel coming from? China. The Wall Street Journal reports:
China’s steel exports rose 63% to 9.2 million tons in January from a year earlier, a rise that puts them on pace this year to beat the 82.1 million tons China exported last year. That number increased 59% from 2013 and was the most steel ever exported by any country this century.More ...