SMA Applauds Section 232 Agreement with the UK

Washington, DC:  “The Steel Manufacturers Association (SMA) is pleased with the 232 agreement between the United States and the United Kingdom announced today.  This agreement will help with the problems of global excess steel capacity, transshipment, illegal dumping and subsidies” said SMA President Philip K. Bell.  The deal will end the threat of retaliatory tariffs by the UK and will implement a tariff rate quota structure with a melted and poured requirement.   Bell added “We are glad to see that the arrangement also includes a requirement to audit Chinese owned steel producers in the UK.   This will help prevent favorable Chinese financing and subsidies and thwart China’s attempts to evade fair trade laws by using foreign investment.”

“We want to congratulate the negotiation teams from USTR and Commerce for a job well done.  This group has reached three major agreements with the EU, Japan and UK in under six months. Their hard work and determination are appreciated.”