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Mr. Shambaugh argued that China has long been using exactly the same system that it did with steel in overproducing and exporting low-priced eco-friendly Strength technological know-how merchandise and semiconductors.
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“In these days’s interconnected financial system, such overcapacity also can lead to the concentration of supply chains in ways that eventually minimize economic resilience,” Mr. Shambaugh stated in remarks for the Council on Overseas Relations.
Administration officials said that 3.8 million a ton of metal came into America by means of Mexico final calendar year, and that Total steel imports from Mexico were increasing.
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