Trade Cases
December 21, 2017
SMU Market Trends: Does the Steel Industry Still Need Section 232?
Written by Tim Triplett
With demand fairly strong and prices rising, two out of three respondents to this week’s Steel Market Update market trends questionnaire feel there is no longer any need for President Trump to act on Section 232 ahead of the mid-January deadline.
Earlier this year, the Trump administration instructed the Commerce Department to investigate whether low-priced steel imports pose a threat to the U.S. steel industry, and thus to national security, under Section 232 of the Trade Expansion Act of 1962. The administration originally planned to impose new Section 232 tariffs or quotas on steel imports in June, but then delayed action in the face of strong opposition and has left the market hanging for months. Commerce and the president have a matter of weeks to act on the controversial measure, unless they choose to let it lapse. Following are some of the more insightful comments from steel buyers this week:
