A JUSTIFIABLE AND NECESSARY ACTION: As imports of steel to the United States continue to rise, an examination of foreign practices is urgently needed.
- Despite America’s existing domestic steel industry, imports of steel into the United States have risen 19.6 percent between February 2016 and February 2017.
- Recent reports by the United States International Trade Commission (USITC) have found that steel imports injure the United States steel industry.
- The USITC has found domestic steel makers are harmed where nations that export steel products to the United States unfairly subsidize their products or sell them at artificially low price.
TAKING STEPS TO PUT AMERICA’S STEEL INDUSTRY FIRST: President Donald J. Trump is taking action to ensure America’s steel industry comes first, in addition to his Buy American and Hire American policies.
- Today, the President signed a Presidential Memorandum prioritizing an investigation initiated by the Secretary of Commerce into whether steel imports threaten to impair the national security.
- The investigation is being conducted under Section 232 of the Trade Expansion Act of 1962.
- The Secretary of Commerce is directed to expedite his investigation of the effects of steel imports on the national security to determine the following:
- Whether steel imports cause American workers to lose jobs which are needed to meet security requirements of the domestic steel industry.
- Any negative effects of steel imports on government revenue.
- Any harm steel imports cause to the economic welfare of the United States, recognizing the close relationship between economic prosperity and national security.
- By law the investigation must be concluded and a report submitted within 270 days.
- If the report concludes that steel imports threaten to impair the national security, and the President concurs, he may take several actions, including tariffs, to eliminate the negative effects of steel imports on the national security of the United States.
KEEPING HIS PROMISE TO THE AMERICAN PEOPLE: President Trump promised that he would scrutinize U.S. steel imports and seek a revitalization of the American steel industry.
- Then-Candidate Trump:
- Observed that foreign nations are “dumping vast amounts of steel all over the United States, which essentially is killing our steelworkers and steel companies.”
- Promised that “we will put new American steel into the spine of this country.”
- Promised that “We’re going to use American steel, we’re going to use American labor, we are going to come first in all deals.”