There has been much debate about President Donald Trump’s imposition of 25 percent tariffs on foreign steel to protect national security and address foreign unfair steel imports. His actions were absolutely necessary. Numerous countries use subsidies and other unfair practices and dump steel all over the world. This has caused idled steel plants, lost jobs and a risk to national security — as the military needs an American steel industry.
Imports took 27 percent of the market for finished steel products last year, the third highest share on record. More than 100,000 tons of steel on average came into the USA every day.
Global steel overcapacity, estimated by the Organization for Economic Cooperation and Development to be nearly 600 million tons, has fueled this import surge.
OUR VIEW: Trump's tariffs spawn Big Government
The steel industry has addressed a number of these import issues through anti-dumping and countervailing duty trade cases. But as soon as the industry wins a trade case, imports of that product shift to another country. Imports include steel that originates in China but then is shipped to third countries — such as South Korea, Vietnam or Turkey — for further processing before it is exported to the USA. A comprehensive remedy was clearly needed, or the American steel industry’s very existence would be threatened, posing a serious national security threat. That is why the president invoked Section 232 of U.S. trade law.
Country exemptions or product exclusions should not undermine this action. In the rare cases where there is a specific niche product that the domestic steel industry does not or cannot make, the process to apply for a product-specific exclusion is being utilized.
The president’s actions are working. Steel imports fell 34 percent from April to June, prompting job growth. U.S. Steel has restarted facilities in Granite City, Illinois, which means 800 jobs.
The steel industry contributes over $520 billion a year to the economy and directly and indirectly supports nearly 2 million American jobs. A healthy and sustainable steel industry is vital to preserve the nation’s ability to protect Americans at home and abroad.
Address: He Ping Street East , Tang Shan City