WASHINGTON, D.C. - 25 American steel and steel-related companies and associations, representing nearly 75,000 employees, today wrote to President Trump encouraging immediate action under Section 232 of the Trade Expansion Act of 1962.
The Secretary of Commerce formally submitted his report to the president on the Section 232 investigation into the impact of steel imports on national security on January 11th.
“Now is the time for Presidential action to prevent excess steel capacity and surging steel imports from undermining our national security and the viability of the U.S. steel industry,” the companies stated. “We need strong action that meaningfully adjusts imports and restores healthy levels of capacity utilization and profitability to the domestic industry to ensure we can continue to produce the steel needed for our national security and critical infrastructure.”
The steel industry states that foreign steel imports were up 15 percent in 2017 compared to 2016, capturing 27 percent of market share. Approximately one quarter of our domestic steel capacity today is not being utilized. And, since the 232 investigation was announced in April 2017, imports have continued to surge. In June of 2017, steel imports hit their highest monthly total in more than two years by capturing 30% of the U.S. market.
“Excess steel capacity is the main cause of the sustained surge in imports….efforts to address global excess capacity through international organizations have to date failed to produce an effective solution, and the U.S. industry continues to suffer the consequences of surging steel imports. This is why a remedy under Section 232 is necessary,” they concluded.
Link to the full letter is here.
Signers of the letter include: Alton Steel Inc., AK Steel Corporation, ArcelorMittal USA, Bayou Steel Group, Byer Steel, Charter Manufacturing, Cleveland-Cliffs Inc., Commercial Metals Company, DTE Power and Industrial, Gerdau Long Steel North America, Jersey Shore Steel Company, JSW Steel (USA) Inc., Keystone Consolidated Industries Inc., McDonald Steel Corporation, Mid American Steel & Wire, Nucor Corporation, SSAB Americas, Steel Dynamics Inc., Sterling Steel, Stupp Corporation, TimkenSteel Corporation, United States Steel Corporation, W. Silver, Inc., Steel Manufacturers Association and the American Iron and Steel Institute.
Lisa Harrison, AISI
202.452.7115 / email@example.com
Annie Stefanec, SMA
202.296.1515 / firstname.lastname@example.org
AISI serves as the voice of the North American steel industry in the public policy arena and advances the case for steel in the marketplace as the preferred material of choice. AISI also plays a lead role in the development and application of new steels and steelmaking technology. AISI is comprised of 21 member companies, including integrated and electric furnace steelmakers, and approximately 120 associate members who are suppliers to or customers of the steel industry. For more news about steel and its applications, view AISI's website at www.steel.org. Follow AISI on Facebook or Twitter (@AISISteel).
SMA is North America’s largest steel industry trade association, and the primary association for electric arc furnace steel producers. SMA’s 25 producer member companies account for over seventy-five percent of total domestic steelmaking capacity. SMA members have operations in Canada, Mexico, 43 U.S. states and 115 congressional districts. For more information visit SMA’s website at www.steelnet.org or our Facebook page.