US Congressional Steel Caucus Urges to Keep Steel Tariffs
The Times reported that US’s Congressional Steel Caucus, a bipartisan group of members of the House of Representatives who mostly represent districts
The Times reported that US’s Congressional Steel Caucus, a bipartisan group of members of the House of Representatives who mostly represent districts with steel mills or iron ore mines, has sent a letter to Biden administration urging it to keep the Section 232 steel tariffs in place. They argue the tariffs are needed to protect a vital industry that supports 2 million jobs across the United States, supplying the metal needed for cars, appliances, bridges, buildings and other infrastructure. The letter stated “As members of the Congressional Steel Caucus, we work closely with industry and labor and recognize the impact that unfairly traded imports and global steel overcapacity have had on the nation’s steel sector. It is important that these tariffs and quotas remain in place to ensure the industry can continue its road to recovery.”
Congressional Steel Caucus co-chair Northwest Indiana's congressman US Rep Frank J Mrvan wrote “I applaud the initiative of my fellow leaders and members of the Congressional Steel Caucus for joining together to express our strong support that the Section 232 steel tariffs and quotas remain in place. We must continue to do all we can to ensure that our nation supports domestic steel companies and American steelworkers. It is necessary for the American steel industry to have a level playing field so that our innovative companies and skilled workers can lead the world in manufacturing the most environmentally-friendly and efficiently produced steel. I look forward to continuing to engage with Steel Caucus members, my colleagues, and the Biden-Harris Administration to ensure that the American steel industry remains the foundation of our national economy and our national security.”
American Iron and Steel Institute president and CEO Mr Kevin Dempsey said “We are pleased and grateful that so many members of Congress have championed the American steel industry and our workers by supporting the preservation of the existing steel tariffs. We appreciate that a bipartisan group of 51 members of Congress, led by Steel Caucus Co-Chairmen Reps. Conor Lamb (D-PA) and Frank J. Mrvan (D-IN), and Co-Vice-Chairmen Reps. Mike Bost (R-IL) and Rick Crawford (R-AR), have sent a compelling letter to President Biden emphasizing the impact that unfairly traded imports and global steel overcapacity have had on our industry and that the steel tariffs and quotas have significantly reduced foreign steel imports. We appreciate the members of the Steel Caucus recognized that the new investments the steel industry is making, and our global leadership in the production of sustainable steel products, will be at risk if the existing tariffs and quotas do not remain in place. Steel is key to helping America build back better our economy by promoting American manufacturing and the jobs it supports. We stand ready to work with these members of Congress and others to address the global trade distortions in steel that continue to threaten the steel industry and its workers.”
US’s domestic steel industry and United Steelworkers union have pushed for trade protectionism for years because of concerns about foreign-made steel being dumped in the United States below fair market value. They say the global steel industry suffers from significant overcapacity, largely as a result of China's state-run steel industry, which single-handedly produces more than half the world's steel.