The Steel Manufacturers Association (SMA) is calling on Congress to maintain Section 232 tariffs, Callanish said in a press release from the SMA.
In his testimony at the State of Steel hearings, SMA Chairman Barry Schneider notes that the U.
S. steel industry is in a strong position, helped by pro-production policies and past tax reforms. He warned that issues such as oversupply in China, high interest rates and slow approvals were still threatening progress.
Schneider calls on the White House to ensure strict compliance with Article 232 to prevent unfair imports.
"The 232 steel duties have been a huge advantage for the American steel industry and have strengthened national security since they were first introduced in 2018," says the SMA chairman.
The Commission calls for strengthening the Agreement between the United States, Mexico and Canada (USMCA) by adding stricter regulations, including a steel "smelting and casting" standard, stricter labor cost requirements, and coordinated border measures in Canada and Mexico. These steps are aimed at reducing dependence on non-market steel from other countries, including China, and increasing demand for steel in North America.
"Strengthening the USMCA can play an important role in boosting steel demand across the region, contributing both to the development of the American steel industry and to the achievement of the administration's broader trade policy goals," adds Schneider.
Federal infrastructure spending, including the Infrastructure Investment and Job Creation Act, is critical to boosting demand for American steel. According to testimony, the adoption of the Equal Opportunity Act 2.0 would strengthen the tools needed to combat unfair trade practices.
Author: John Isaacson, USA
Kallanish.com
