Update on U.S. Commerce Department Steel Imports Investigation
June 6, 2017 - Everyone in the steel industry is aware of accusations that foreign countries sell steel into the U.S. at prices below the cost of production (dumping). In April, President Trump signed a Presidential Memorandum directing the Secretary of Commerce to investigate whether steel imports threaten our national security. If the President finds that they do, the law allows him to take steps to protect our domestic steel industry.
On May 24, the Department of Commerce held a public hearing on whether the steel import problem threatens our national security and, if so, what to do about it. U.S. steel producers and industry experts testified on the damage steel imports are doing to U.S steel companies and our need to keep domestic steel producers for national defense purposes. Foreign officials and representatives of foreign steel interests testified that steel imports are not threatening U.S. national security.
The Secretary also solicited written public comments on current domestic steel production and how much capacity is needed to meet national defense needs; existing and anticipated availability of human capital, products, raw materials, production equipment, and facilities to produce steel; foreign competition’s impact on the economic welfare of the U.S steel industry; and any other information on steel imports and how they may threaten our national security. Comments were due May 31.
With the hearing completed and the comment period closed, the Department of Commerce is now working on the report that must be submitted to the President. According to Secretary of Commerce Wilbur Ross, the report will be submitted to the President by the end of June. President Trump must then decide whether to accept the Department’s findings and what steps to take in response.
The following link has all relevant information about the progress of the investigation: https://www.commerce.gov/page/section-232-investigation-effect-imports-steel-us-national-security#noticerequest
We urge you to check back on this website for updates on this and other Buy America Program issues, which we follow closely.