US mills can still benefit from 'worst trade deal ever', say steel execs

The US steel industry remains confident that it will continue to benefit from the North American Free Trade Agreement (Nafta) despite president Donald Trump blasting the pact as the “worst trade deal ever made”.

And the Steel Manufacturers Association (SMA), a Washington-based trade association the represents electric-arc furnace steelmakers, is happy to see US negotiators taking up domestic-content requirements and country-of-origin rules, the association's president, Philip Bell, said at a board meeting in Indianapolis on Monday October 9. “I do know from discussions with those who are at the negotiating table that that’s a high-priority item for them,” he said, although he was not sure whether any specific proposals on US-content requirements had been tabled. A fourth round of talks are currently under way to renegotiate Nafta, a trade deal that went into effect in 1994 and that reduced trade barriers between the USA, Canada and Mexico. US Trade Representative Robert Lighthizer, a veteran steel industry...


Michael Cowden

October 11, 2017

21:58 GMT