WASHINGTON, D.C. – Steel Manufacturers Association (SMA) president Philip K. Bell released the following statement today, after Monday’s presidential proclamation implementing a tariff-rate quota (TRQ) on steel imports from the EU:
“The SMA is pleased that the Biden administration has officially implemented a tariff-rate quota (TRQ) under Section 232 on steel products imported from the European Union. This is a result of the negotiations between the U.S. and EU that concluded in October. As steel imports are increasing and capacity utilization has dipped in recent months, it is essential that the implementation, administration and enforcement of this new agreement is done in a manner that continues to support American steel companies and workers.”
“We commend the fact that this agreement includes provisions to help ensure that only steel that is melted and poured in the EU will be eligible for tariff free status. The SMA is also prepared to work with the administration as it conducts a regulatory review of the current 232 exclusions process. For this alternative plan to work, we must be sure that millions of tons of steel products do not find a tariff free way to our shores when many of these products are produced here in the USA.”
Bell added, “This new agreement also emphasizes the importance of lowering carbon intensity in the global steel industry. This is an area where American steelmakers lead the way by producing the lowest carbon intensity steel in the world by being global leaders in recycling and electric furnace steel production. It is our sincere hope that this agreement will incentivize other countries to take a market oriented approach to steel trade and sustainable steelmaking.”
The complete presidential proclamation can be found here: A Proclamation on Adjusting Imports of Steel into the United States
SMA is the largest steel industry trade association in the United States and is the primary trade association representing American EAF steel producers. Accounting for over 70 percent of domestic steelmaking production, EAF producers are the most sustainable steelmakers in the world. By using an innovative, 21st century production process that is less energy-intensive, domestic steelmakers have up to 75 percent lower carbon emissions than traditional steelmakers. SMA’s 24 producer members have operations in 35 states. For more information check out our website at www.steelnet.org or our Linkedin page.
