China-US Trade Negotiations Have Begun. What Impact Will This Have On Steel Prices?

On May 10, senior Chinese and American officials launched a new round of trade consultations on the shores of Lake Geneva in Switzerland. The first round of talks lasted about eight hours, providing the two countries with the clearest opportunity to ease the trade war so far. President Donald Trump called it a "very good" meeting. Although no final agreement was reached on the first day of negotiations, market expectations for tariff adjustments have significantly increased. As an important indicator of international trade, the results of this negotiation will have a far-reaching impact on the global commodity market, especially the steel industry, which is paying close attention to potential changes in tariff policies.