Fiji Time: 9:08 PM on Friday 23 March

Fiji Times Logo

/ Front page / Archives » Article Index

Call to curb imports

Saturday, February 03, 2018

WASHINGTON - The chief executives of top American steel companies and related groups urged President Donald Trump on Thursday to urgently impose trade measures to curb excess steel capacity and surging imports they say are undermining the US industry.

The American Iron and Steel Institute, or AISI, called on Mr Trump in a letter to immediately act under "Section 232" of a 1962 US trade law, which allows for restrictions to protect national security.

"We urge you to implement a remedy that is comprehensive and broad based, covering all major sources of steel imports and the full range of steel products, with only limited exceptions for products not currently available in the US," according to the letter seen by Reuters.

Companies that signed the letter included Alton Steel, AK Steel Corp, Cleveland-Cliffs Inc, TimkenSteel Corp, Nucor Corp, and ArcelorMittal USA.

The letter was the second in five months from the steel industry to Mr Trump, who promised in his presidential campaign to protect American steelworkers from imports and ordered an investigation of foreign steel imports under Section 232.

The results of the investigation were handed to Mr Trump last month.

He has 90 days to respond.

A White House spokeswoman did not immediately respond to a request for comment.

Forcing a reduction of excess production in China, which now supplies half the world's steel, is a key goal of any potential restrictions.

The US, the world's biggest steep importer, and China have long been at odds over how to combat excess capacity in the global steel sector.

China has argued that it has done its bit to tackle the problem by cutting capacity.

The letter to Mr Trump underscored that despite the threat of trade actions, imports continue to surge.

In June 2017, steel imports hit their highest monthly total in more than two years by capturing 30 per cent of the US market, according to AISI.

Efforts to address global excess capacity through international consultations and groups such as the G20 and Organization for Economic Cooperation and Development had failed, AISI added in its letter.

Fiji Times Front Page Thumbnail

Kaila Front Page ThumbnailFiji Times & Kaila Frontpage PDF Downloads

Use the free Acrobat Reader to view.

Code Inward TTs Outward TTs
CAD 0.64290.6239
JPY 52.917249.9172
GBP 0.35110.3431
EUR 0.40370.3917
NZD 0.69480.6618
AUD 0.64820.6232
USD 0.49830.4813



Exchange Rate updated on 23th, March, 2018

Today's Most Read Stories

  1. Set academic goals achieved
  2. Teacher 'abused'
  3. PM: Take warnings seriously
  4. Student queries A-G on expats
  5. 7s return
  6. Suspects arrested for robbery caught on video
  7. Marist 7s: Tuvalu recruits Fijians
  8. Tabadamu chases fourth Marist title
  9. No universal vaccine
  10. Good news for fishers

Top Stories this Week

  1. Meningococcal disease outbreak Tuesday (20 Mar)
  2. 'Forced to go' Saturday (17 Mar)
  3. Doctors speak out Sunday (18 Mar)
  4. No desk for this girl Monday (19 Mar)
  5. Where are our horses Sunday (18 Mar)
  6. 12 dead by disease Tuesday (20 Mar)
  7. Police appeal to livestock owners Monday (19 Mar)
  8. Teacher reports male student in washroom for girls Tuesday (20 Mar)
  9. Speaker orders Nawaikula to withdraw accusation Saturday (17 Mar)
  10. SGS junior has fastest 100m time Wednesday (21 Mar)