Strong demand for steel worldwide has helped Japanese producer Nippon Steel offset the impact of US tariffs imposed on its products. The company said it had been forced to raise prices by about 10 percent in response to a 25 per cent tariff hike from China and other countries. US exports account for just 4% of the company's sales, with 70% going to Asia. About 70 percent of Nippon Steel’s exports go to Asia. Overall, Japan's steel exports to the US recovered in April, rising by 13%, after dropping by 40% in March.
Strong demand for steel worldwide has helped Japanese producer Nippon Steel offset the impact of US tariffs imposed on its products. The company said it had been forced to raise prices by about 10 percent in response to a 25 per cent tariff hike from China and other countries. US exports account for just 4% of the company's sales, with 70% going to Asia. Overall, Japan's steel exports to the US recovered in April, rising by 13%, after dropping by 40% in March.