Steel CEOs Urge Government to Reject Allegheny's Tariff Exclusion Request

SEATTLE (Scrap Monster): The CEOs of AK Steel Corporation, North American Stainless and Outokumpu Stainless USA have urged the U.S. administration to refuse to waive the national security tariffs on imports of Chinese stainless steel slabs from Indonesia. Earlier this year, Pittsburgh-based Allegheny Technologies, Inc. (ATI) had requested Trump administration’s approval to import Chinese subsidized stainless steel from Indonesia.

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According to Roger Newport- CEO of AK Steel Corporation, Cristobal Fuentes- President and CEO of North American Stainless; and, Olli-Matti Saksi- President of Outokumpu Stainless USA, the imposition of hefty tariffs on steel imports into the country has bolstered the domestic steel industry. It resulted in reopening of several idle plants, thus adding to U.S. manufacturing sector jobs.

The granting of special treatment to ATI could ultimately jeopardize every American stainless steel job. Currently, the company sources stainless steel slabs from a Chinese-owned steel mill in Indonesia at fairly subsidized prices. The deal, as requested by ATI, will flood the U.S. market with subsidized slabs bypassing tariffs. The Trump administration should deny ATI’s exclusion request under Section 232, they urged.