President announces final Section 232 decision to come next week
President Donald Trump on Thursday announced he expects to issue a 25 percent tariff on imported steel in response to the national security investigation he initiated last spring.
The need for steel action remains clear, according to Commerce Department’s findings that point to at least 10 blast furnaces closing since 2000. Meanwhile, steel imports continue to surge with an increase of over 15 percent in 2017.
Said Alliance for American Manufacturing (AAM) President Scott Paul:
"President Trump made an encouraging show of support when he met with steel industry executives today. Now it's time to act on the Section 232 investigation.
"We're on the brink of a potentially historic rebalance of America's trade priorities. As we noted in a letter to the president this week and our cable TV ad, we are confident a robust steel trade action is good for our economy. A decision to restore sanity to global steel markets will help create domestic jobs and preserve our national security.
"But to achieve those results, the president's enforcement action must be broad, robust and comprehensive. We urge the president to stand by our nation's steel communities. They are counting on him to follow through on this."