Leading US steel companies urge Trump to immediately curb imports

A group of leading U.S. steel companies urged President Trump, in a letter on Thursday, to impose policies that would limit steel imports, Reuters reported. 

“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 United States,” the letter stated.

Twenty-five U.S. steel companies and groups signed the letter, which comes as Trump is weighing whether to take action on a report regarding the national security implications of steel imports.

{mosads}The Commerce Department in early January sent Trump the report, and gave him 90 days to decide whether to take action on steel importers in response.

Trump can assess penalties under Section 232 of a 1962 trade law that gives the president the power to apply higher tariffs on imported steel or curb imports.

Trump has previously suggested he would consider implementing tariffs or quotas on steel imports in an effort to fulfill his campaign promise to protect American steelworkers.

Trump last week announced his administration would impose tariffs on imported solar panels in an effort to benefit domestic workers.