Sharply Contrasting Views on Section 232

Emotions are running hot as the market awaits President Trump’s decision on Section 232, and whether to impose new trade restrictions on steel imports for national security reasons. Sharply contrasting comments recently from Dan DiMicco and Richard Chriss serve to bookend both sides of the issue.

DiMicco, the former CEO of Nucor and current trade advisor to President Trump, speaks for supporters of the measure when he argues that strong trade enforcement measures are needed: “The 232 is one of the few things the president could implement that would have a real chance of ending the ‘cycle’ of illegally dumped steel, etc., that has plagued our industry for decades. A cycle made infinitely worse by China’s mercantilist trade practices. It needs to be strongly punitive and lasting.”