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1) A reminder of what's at stake for #Argentina as the White House imposes tariffs on steel and aluminum imports: In 2016, Argentina's aluminum exports to the U.S. were valued at $332 million (@USTradeRep). Last year, the U.S. imported 249,000 tons of Argentine aluminum (@USGS).
2) Protesting the tariffs, #Argentina emphasizes its relatively small role in the U.S. aluminum sector, accounting for just 4% of U.S. aluminum imports. But the diplomatic pushback shows the economic importance of the industry for Buenos Aires. @braunmi @ShunkoRojas
3) The major industry player in #Argentina, Aluar Aluminio Argentino, alone has 2,000 employees. Earlier, it appealed to @CommerceGov not to penalize its exports to the U.S. Midwest. https://www.bis.doc.gov/index.php/232-aluminum-public-comments/1956-aluar-alum-public-comment-pdf/file …
4) Steel in #Argentina is less significant than aluminum, but hardly negligible, as the country continues to recover from a recession in 2016. Its steel exports to the U.S. last year reached 211,465 tons, valued at $223 million (@uscensusbureau).
5) The major steel sector player is Tenaris, a Techint subsidiary that sends most of its exports to the U.S., according to Platts. The Cámara Argentina del Acero is not pleased.pic.twitter.com/IQPU5m5Gk9
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