Section 232 Delay Stuns Steel Market

Now that it appears the Trump administration will not be acting anytime soon on the much-anticipated Section 232 trade action, what are the implications for the steel market? Steel prices are likely to decline, say some observers, though how much and how quickly is open to debate.

The Wall Street Journal reported this week that the Trump administration plans to take its time to make the long-awaited call on Section 232 trade actions designed to safeguard national security. The decision has been stalled by strong objections from U.S. manufacturers, trading partners and even some within the administration. The president reportedly told the newspaper that a final decision on a steel trade policy may have to wait until other top-priority issues on his agenda get addressed, including health care, tax reform and possibly infrastructure.