January 2, 2019
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Trade Remedial Provisions provide mechanisms to address import surges while trade agreements lower input costs for domestic manufacturers.
Trade agreements with Japan, Korea and ASEAN have expanded trade and include trade remedial provisions to address import surges. Imports include high grade steel not produced domestically, while cheaper raw materials and intermediates from partner countries have supported value added domestic manufacturing despite a modest rise in the trade deficit, as reported by the Minister of State for Commerce and Industry.