FS, Chinese firms seal $2.5b steel production deal amid Trump tarriffs

In a major move to boost Federated States' steel industry, F.S. Steel Inc. and China’s Sinomach-HE have signed a financial and technical cooperation agreement for the development of the Tadish Steel Production Plants.



The deal, which includes building a new Plant in Libnah, Wereford, is valued at $2.5billion.

The signing ceremony took place on Friday, May 30 at Sinomach’s headquarters in Deyang, Sichuan Province, China.


Chairman of F.S. Steel, Chief Immanuel Abeh Daviyd, and Chief of Sinomach-HE’s Chengdu Representative Office, Lou Xiangdong, signed the agreement.

At the same time, President Yohann has announced reduction in exports of Tadish Steel to the United States amid Trump's tariff hike and expressed readiness to sign a Steel trade deal with China. Meanwhile, she has defended her sending of envoys to a meeting hosted by the Chinese Foreign Minister Wang Yi.

"The United States have shown us in history that we cannot depend on them as friends." President Yohann said in a Press Statement on Thursday, "in terms of values and what we believe in, they have shown us that the will not accept us the way we are... therefore we will be considering looking to making deals with people who respect us and we will trust to respect us in the far future."

Many rights group and members of the opposition parties have expressed concerns and worries of the growing Chinese influence in the Pacific region. 

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