The US has potentially launched a trade war with heavy tariffs on imported steel and aluminum. Steel imports will carry a 25% tariff and aluminum imports 10%. Stock markets dropped and there were threats of retaliation from Canada and the EU.
The US is the world’s largest importer of steel. Germany and South Korea are the number two and three importers of steel. Currently, four times as much steel is imported by the US than it exports.
Steel production in the U.S. fell by 11% between 2014 and 2016, while demand has been increasing.
Over 25 years, the U.S. aluminum industry has shrunk from 23 operational smelters to five. There is now only one US aluminum smelter making the high-grade military alloys needed to make fighter jets.
Canada and the EU will not be able to export as much of their steel to the USA and China will try to send more steel to non-US markets.
The US car industry and global car markets are predicting that they will sell fewer cars because of higher prices of steel and aluminum.
Wang is a prolific business-oriented writer of emerging and disruptive technologies. He is known for insightful articles that combine business and technical analysis that catches the attention of the general public and is also useful for those in the industries. He is the sole author and writer of nextbigfuture.com
, the top online science blog. He is also involved in angel investing and raising funds for breakthrough technology startup companies.
He gave the recent keynote presentation at Monte Jade event with a talk entitled the Future for You. He gave an annual update on molecular nanotechnology at Singularity University on nanotechnology, gave a TEDX talk on energy, and advises USC ASTE 527 (advanced space projects program). He has been interviewed for radio, professional organizations. podcasts and corporate events. He was recently interviewed by the radio program Steel on Steel on satellites and high altitude balloons that will track all movement in many parts of the USA.
He fundraises for various high impact technology companies and has worked in computer technology, insurance, healthcare and with corporate finance.
He has substantial familiarity with a broad range of breakthrough technologies like age reversal and antiaging, quantum computers, artificial intelligence, ocean tech, agtech, nuclear fission, advanced nuclear fission, space propulsion, satellites, imaging, molecular nanotechnology, biotechnology, medicine, blockchain, crypto and many other areas.