The United States imported 2.99 million net tons of steel in August, an 8.5 percent month-over-month decline, driven down by lower volumes from Brazil and South Korea from a month prior.
Bernie Sanders, D-Vt., said he will fight the trade deal in the Senate, but Sen. Elizabeth Warren, D-Mass., hinted the deal could fly in 2017 if controversial language giving corporations the right to challenge a nation's regulations is removed.
The association has called on the U.S. Customs and Border Protection to promulgate rules that require importers of low value goods to bear the same data requirements as shippers of goods over the de minimis level.
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A hearing will be held Tuesday in a U.S. bankruptcy court in Newark, N.J. to consider the South Korean ocean carrier’s request to have its rehabilitation proceeding in bankruptcy court in Korea recognized under Chapter 15 of the U.S. bankruptcy code.
The President of South Korea, Park Geun-hye, said corporate responsibility and moral hazards are creating adverse effects on its national economy and the government will not blindly support companies in financial trouble.
Electronics manufacturer Samsung said in court filings that "cargo owners are being held hostage," while Maher Terminals said it "is not required to extend free credit to Hanjin, and should not be forced to."