Washington, D.C. – Today the Trump administration announced it will lower section 232 national security tariffs on steel imports from Turkey to 25 percent, previously 50 percent, effective May 21.
The Steel Manufacturers Association (SMA) supported the Administration’s initial decision to raise the tariffs to 50 percent in response to trade tensions and currency manipulation issues with Turkey. Many of these conditions are still present. Now that the tariffs have been lowered, the SMA will monitor the import situation to see if a reduction in the tariffs results in a surge of steel imports from Turkey.
“The current 232 national security measures are working and have led to increased capacity utilization as well as numerous jobs and investment announcements by steel producers in the United States,” said SMA President Philip K. Bell. “It is our hope that Turkey responds to this action favorably and continues to support global fair-trade practices and avoids trade-distorting behaviors.”
SMA urges the Administration to persist in efforts to promote steel trade policies that level the playing field.
SMA is the largest steel industry trade association in the United States, primarily representing North American Electric Arc Furnace (EAF) steel producers. EAF steelmakers account for almost 70 percent of domestic steelmaking capacity using an innovative, 21st-century production process that is less energy intensive and has a lower carbon footprint than blast furnace steelmaking. Through EAF steel production, more steel is recycled than aluminum, paper, and plastic combined. SMA’s 25 EAF producer members and over 100 associate members have operations in 43 states. For more information check out our website at www.steelnet.org or our Facebook page.