Press Release: SMA Comments on U.S. Department of Commerce Release of Section 232 Report

Press Release: SMA Comments on U.S. Department of Commerce Release of Section 232 Report

Steel Manufacturers Association Comments on U.S. Department of Commerce Release of Section 232 Report

Washington. D.C. – Steel Manufacturers Association (SMA) President Philip K. Bell issued the following statement in response to the Commerce Department’s release of the report on the U.S. Department of Commerce’s investigations into the impact on our national security from imports of steel mill products:

“We support the release of the findings and recommendations contained in the Section 232 Report.  Secretary Ross has accurately concluded that steel imports threaten to impair our national security from both a defense and critical industry standpoint. The Secretary has laid out options that have the potential to be meaningful and effective to address the threat the industry faces in light of global excess capacity and relentless steel imports.”

The Commerce recommendations include a global tariff of at least 24% on all steel imports from all countries. A second recommendation is a targeted tariff of at least 53% on all steel imports from 12 countries (Brazil, China, Costa Rica, Egypt, India, Malaysia, Republic of Korea, Russia, South Africa, Thailand, Turkey and Vietnam) with a quota by product on steel imports from all other countries equal to 100% of their 2017 exports.  A third recommendation includes a quota on all steel products from all countries equal to 63% of each country’s 2017 exports to the United States.

“The President now has options before him that can move our industry forward and help steelmakers operate at rates that will allow U.S. producers to reinvest to maintain and strengthen the industry to ensure U.S. steel production can survive to serve U.S. national defense interests.

Bell added, “The release of the report represents an important increase in transparency in this national security process and we will continue to analyze its findings.  We look forward to a decision by the President, and working with the steel industry, Congress and interests on all sides of this vital issue.”

SMA is North America’s largest steel industry trade association, and the primary association for electric arc furnace steel producers.  SMA’s 25 producer member companies account for over seventy-five percent of total domestic steelmaking capacity. SMA members have operations in Canada, Mexico, 43 U.S. states and 115 congressional districts. For more information visit SMA’s website at www.steelnet.org  or our Facebook page.

 

2018-02-19T14:56:11+00:00