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After two years of bumper profits, the steel industry is entering a slowdown. ArcelorMittal, as well as smaller European producers like Salzgitter AG and Voestalpine AG, are sounding the alarm about weakening conditions, particularly in China. The country, which uses about half of the world’s steel, is now expected to see a drop in demand, the first contraction since 2015.

TOKYO — Japan’s exports fell 3.8% in December from a year earlier, hit by slowing demand in China, as the trade balance shifted back into deficit for the year, the Japanese government reported Jan. 23.

President Trump laid out his demands July 17 for a new North American Free Trade Agreement, setting the stage for rounds of negotiations among U.S., Canadian and Mexican officials to overhaul the landmark treaty that dictates the nations’ cross-border commerce.