Trade Cases
Steelmaker Testifies: Make Sure Tariffs are Effective
Written by Tim Triplett
April 15, 2018
U.S. steel producers consider the Trump administration tariffs on steel imports a big step forward, albeit a journey still in progress, but are not resting on their laurels. AK Steel CEO Roger Newport presented the industry’s case once again in testimony Thursday before the House Ways and Means Committee in support of Section 232.
“We encourage Congress to support the actions of the administration to ensure the steel Section 232 tariffs are effective, and that the U.S. maintains the ability to produce products critical to our national security interests, including the electrical infrastructure supply chain,” Newport said.
“At no time in our history have the challenges confronting the domestic steel industry because of unfair trade been more severe than the last three years when unfairly traded imports spiked to record highs, threatening to impair our national security interests. Nowhere is this more evident than for electrical steel, where due to unfair trade AK Steel is now the only remaining domestic producer of electrical steel for transformers, which are critical to the nation’s electric grid. Recognizing the global reality domestic steel producers face and the inadequacies of the trade laws to address it, President Trump took the bold and necessary action of imposing tariffs on foreign steel because of the Department of Commerce’s 232 investigation.”
In his testimony, Newport also noted that for the 232 remedy to be effective for electrical steel, it must also apply to downstream products like laminations, cores, core assemblies and transformers. He emphasized the importance of the administration not losing sight of the president’s objective of restoring the domestic steel industry to at least 80 percent capacity utilization and making sure mechanisms are in place to combat attempts to circumvent the remedy and undermine its effectiveness.
“We must fight back to make American manufacturing stronger—given how critical it is to our economy and ensuring Americans have jobs with family sustaining wages that contribute to the health of our local communities across this great country,” Newport testified.
Tim Triplett
Read more from Tim TriplettLatest in Trade Cases
Price on Trade: Auto tariffs, auto parts, and Hyundai – a world of rapid changes
Trump's new auto tariffs will apply to passenger vehicles (including sedans, sport utility vehicles, crossover utility vehicles, minivans, and cargo vans), light trucks, and certain automobile parts (including engines and engine parts, transmissions and powertrain parts, and electrical components).
CRU: Canacero urges Mexico-US partnership to fend off Asian steel imports
Victor Cairo, head of Mexico’s steel sector body Canacero and CEO of ArcelorMittal Mexico, says he is confident negotiations between the Mexican and US governments planned for April 2 will lead to the creation of a regional block to substitute imports, especially from Asia.
US chassis makers seek duties on imports from Mexico, Thailand, and Vietnam
Upon the request of US chassis manufacturers, the Commerce Department this week initiated investigations into the alleged dumping and subsidization of chassis imported from Mexico, Thailand, and Vietnam.
European Commission eyes stricter limit on tariff-free steel imports
The European Commmission is reducing the amount of tariff-free foreign steel that can enter the EU.
Trump says exceptions could exist on reciprocal tariffs
President Trump said on Monday there may be exceptions for some countries on reciprocal tariffs.