AISI Seeks Congress Support to Section 232 Steel Tariffs

The Chinese inventories of finished steel products at end-February this year were 45% higher when compared with the prior year.

SEATTLE (Scrap Monster): The American Iron and Steel Institute (AISI) urged the members of the U.S. House of Representatives and U.S. Senate House and Senate staff assigned to trade and steel issues to assure continued support to Section 232 tariffs on steel. The support is essential in order to preserve the domestic steel industry in the face of the deadly outbreak of coronavirus.

The Chinese inventories of finished steel products at end-February this year were 45% higher when compared with the prior year. The domestic orders have declined, amidst near record level of production in the country. The sudden removal of Section 232 steel tariffs could result in excess steel inventories from other countries, especially China, shipped into the U.S. market, which in turn could cause significant damage to the domestic steel industry, AISI noted.

Thomas J. Gibson, President and CEO, AISI observed that any action to remove the Section 232 steel relief will only exacerbate the economic and national security challenges facing the nation. The current challenges on account of coronavirus pandemic do not justify removal of tariffs on steel, he said. Further, he urged the Congress to support the President’s Section 232 action on steel.

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