WASHINGTON, DC- A newly released report by the Economic Policy Institute (EPI) (“Why Global Steel Surpluses Warrant U.S. Section 232 Import Measures”) clearly communicates the effectiveness of Section 232 steel tariffs. Philip K. Bell, president of the Steel Manufacturers Association (SMA), commented on the report in stating “the tariffs have resulted in increased investment and modernization of the domestic steel industry. The report validates how steel tariffs have created jobs and have ensured America’s national security is not jeopardized by structural issues of global excess steel capacity, subsidies, and surges in unfairly traded imports.”
Bell added, “The EPI report shows, with an incredible amount of analytical rigor, how the tariffs have made the steel industry more innovative and have prevented layoffs and mill closures. The report also indicates that tariffs have had a minimal impact on prices for end-users of steel. Continuing 232 steel tariffs is vital as the administration continues to carefully evaluate long-term solutions to address challenges associated with unfair trade and excess capacity. The highly informative report contains important and useful information that policymakers should incorporate into their analysis and decision-making.”
