Steel industry praises proposed tariffs on imports

Published February 16, 2018 8:44pm ET



The domestic steel industry praised a Trump administration report Friday calling for tariffs on steel imports, saying Commerce Secretary Wilbur Ross “accurately concluded” that the imports are a threat to national security and his proposals would be “meaningful and effective to address the threat the industry faces” from foreign competition.

The report proposes an across-the-board tariff of 24 percent on steel imports from all countries to the U.S., or a 53 percent tariff on ​imports from 12 countries, including China, Brazil, South Korea, Vietnam, and India as a solution. Alternately, the report suggested a global quota restricting countries to 63 percent of their 2017 imports.

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