US Can't Lose Benefit from Steel Tariffs

On Friday, when the Trump administration decided to suspend Article 232 tariffs on steel imports from Canada and Mexico, groups representing the US steel industry said the US and its North American trading partners must be vigilant to prevent an increase in levels. import to the continent. ,

“232 administration actions are working,” said Philip Bell, president of the Steel Producers Association. "It is important that strong enforcement measures are adopted in this resolution so as not to undermine the gains made by domestic steel producers during this short period of relief."

Effective May 19, US Section 232 tariffs on steel and aluminum from Canada and Mexico, and counter-tariffs imposed by those countries on US goods, were canceled without quota.

In addition to section 232 tariffs, which took effect for most countries in March 2018 and went into effect for Canada and Mexico in June 2018, tax reform and regulatory certainty have given US steel manufacturers a certain level of confidence to invest in their activities, Bell said,

“It is imperative that we capture these benefits for the domestic industry while maintaining a rigorous steel program,” Bell said.

The agreement reached with Canada and Mexico provides for "aggressive monitoring and a mechanism to prevent surges in steel and aluminum imports," the US trade mission said on Friday, but there were details on how this monitoring would be carried out. not provided. The USTR office and the White House did not immediately respond to a request for comment.

“The new agreements with Canada and Mexico will allow us to continue to work together and take the necessary steps to address transshipment, import surges and other related issues in the future,” said Thomas Gibson, CEO of the American Iron and Steel Institute. "Given the continuing problem of global steel overcapacity - estimated at nearly 500 million tonnes - we must remain strong in our resolve to aggressively enforce our trade laws."

The United Steelworkers' Union, which represents workers in both the US and Canada, said Friday's agreement between the three countries will restore confidence and stability to the North American steel and aluminum markets.

“From day one, we made it clear that the real problem is not in Canada or Mexico, but in those countries that are undermining the trading system due to predatory trading practices and non-market policies that have led to huge overcapacity and trade imbalances.” USW International Pr�