Steel has been a focus of U.S. President Donald Trump’s push for tariffs so let’s take a look at steel by the numbers. According to World Steel – a global trade group, China is the world’s largest producer of steel.
CGTN’s Jim Spellman explores steel exports and which countries import and export the most.
In 2017 China produced 831 million tons of steel, accounting for just under half of the world’s steel output – up slightly over previous years.
The next five top producers are the EU, Japan, India, South Korea and the U.S. which accounts for less than 5 percent of world steel output.
So where does all that Chinese steel go? According to the Chinese Government most of it is used domestically. In 2017 only about 9 percent– 75 million tons– was exported. That’s down about 30% from 2016.
The U.S. government said the top export markets for Chinese steel in 2017 were South Korea, Vietnam and The Philippines. The U.S. ranked way down the list in 26th place, accounting for just 1.1 percent of Chinese steel exports.
So from where does the U.S. import steel? In 2017 the top five countries were Canada, Brazil, South Korea, Mexico and Russia. China ranks 10th, accounting for just 2 percent of imported steel.
The U.S. tariffs on steel may impact many countries around the world, but will likely have little effect on the Chinese steel industry.