In the World Steel Association (worldsteel) annual meeting in Tokyo, the worldsteel Chairman and Nippon Steel & Sumitomo Metal Corporation (NSSMC) President, Kosei Shindo, said that the current core subject in steel industry shall be trade friction. Meanwhile, it would be leading in a reduction demand of steel commercial trade and market share growth around the world.

It was noteworthy that after the US imposed a 25% tariff on imported steel, the entire affection limits by trade friction had already been exceed expectation, including the automobiles and agriculture industry as well. The primary highlight had directly turned into trade disputes between China and the US, and the related disputes involved not only to the steel industry, but also political development.

In a view of the trade business tendency in Japan, President of NSSMC expressed that Japan will not be affected by any significant impact among the US tariff measures. Only 2% of Japanese steel was exported to the US, and Japan was only the eighth largest steel exporter in the US.

He further indicated that even its steel industry was currently facing different risks from all around the world, however, it kept forward with a positive growth due to Japan superior economic environment.