Downstream Section 232 tariffs said ‘woefully inadequate’

Steel and aluminium market participants were disappointed with the outcome of their efforts to convince President Donald Trump’s administration to extend the Section 232 tariffs to downstream product imports, which have surged into the United States in the past year.

“I try to maintain a positive outlook at all times, and it’s clear we have convinced the Department of Commerce that 232 has created a serious downstream problem. With that said, however, their solution is woefully inadequate and bordering on naïve,” according to a manufacturer of steel construction materials.
A presidential proclamation on January 24 announced that certain downstream steel and aluminium products would be subject to tariff rates of 25% and 10% respectively. The affected products and product categories were subsequently identified in two annexes to the proclamation, one for steel and one for aluminium.
The steel manufacturer pointed to Commerce’s review and decision-making process, noting that the department examined public sources of information to find groups of downstream products that contain at least two-thirds steel or aluminium.

“It’s a bureaucratic solution created by the bureaucracy. It’s a maddening merry-go-round we are on here,” he...


Robert England

February 04, 2020

22:29 GMT

New York