Pearson: Section 232 Would Hurt the Economy

Editor’s note: In this letter to the editor, former International Trade Commission Chairman Daniel Pearson comments on the Commerce Department’s Section 232 recommendations released on Friday.

Thanks to Steel Market Update for sharing the DOC’s distressing recommendations. All of them look to me as if they would tighten supplies and raise prices significantly. The United States already has steel prices that are substantially higher than most other countries. Would I be correct to assume that these 232 measures would lead to the United States having by far the highest steel prices of any major country in the world?