President Trump recently announced during his election campaign that the tariff would be imposed on imported laminates and magnetic cores used in electrical grids and military transformers.
Cleveland-Cliffs, which owns AK Steel, supports this proposal. Cleveland-Cliffs said in a recent press that the US Department of Commerce (USDOC) has completed its investigation and presented the results to the White House. The Trump administration will advance Section 232 for corrective action on oriented electrical steels (GOES).
The unfinished action was directed at the outcome of an investigation into a possible circumvention of Article 232 two years ago. In 2017-2019, imports of these goods from Canada and Mexico grew by 87%, although these two countries do not produce GOES.
Cleveland-Cliffs also mentioned that the Trump administration will also consider a recent decision on whether it is appropriate to exempt GOES imports from South Korea from Section 232.
Trump plans to impose duties on imports of electrical steel
There are no comments yet.