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.
Steel Manufacturers Association President Philip Bell endorsed the recommendations. “The president now has options before him that can move our industry forward and help steelmakers operate at rates that will allow U.S. producers to reinvest to maintain and strengthen the industry to ensure U.S. steel production can survive to serve U.S. national defense interests,” Bell said.
The association represents 25 companies that produce more than 75 percent of domestic steel.
