President Donald Trump told reporters that the US could use quotas and tariffs to prevent illegal dumping of steel in the US market, according to a CNBC report.
“There are two ways - quotas or tariffs. Perhaps I will do both, ”said Trump, according to excerpts from his conversation with reporters. Trump added that any action is unlikely to be limited to China because other countries are also dumping steel sold in the US.
“This is not only about China, but others as well. We're like a junkyard for steel, is that okay? " Trump said. "They've been dumping steel and destroying our steel industry, they've been doing it for decades, and I'm stopping it."
Since mid-April, the Department of Commerce has been investigating whether it should recommend restrictions on the steel trade to the President for reasons of national security under section 232 of the Trade Expansion Act 1962.
When Commerce releases its report, Trump will be responsible for 90 days. American steel assets rose after Trump's comments on steel imports, led by AK Steel + 7.1%, US Steel + 3.76%, Nucor + 2.65%, Steel Dynamics + 2.25% and ArcelorMittal + 2 , 08%.
Trump ponders quotas and tariffs on steel imports
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Azovpromstal® 16 July 2017 г. 11:14 |
