The American Metals Supply Chain Institute (AMSCI) is providing feedback to the US International Trade Commission regarding the impact of Section 232 on the domestic steel industry on behalf of suppliers, Kallanish reports.
At a hearing before the commission last month, AMSCI’s representative leaders for steel suppliers in the US argued that the stressful impact of the pandemic on the nation’s supply chain has increased the need for exclusions from both the nation’s Section 232 and 301 tariffs.
“As this Commission found in the recently completed sunset review concerning galvanized steel, the domestic steel industry has increased its capital expenditures over the past four years even as it has reaped windfall profits. These increased capital expenditures and new manufacturing facilities, combined with the shuttering of older, less efficient facilities … have left the domestic steel industry stronger and more competitive so that continued protection on the current scale is simply not necessary,” testifies AMSCI president Richard Chriss.
President Joe Biden has previously indicated that he plans to reverse several tariffs made by the nation’s previous leader, President Donald Trump.
“We have said from the beginning, some Trump tariffs were irresponsible, and did not advance our economic or national security and instead raise costs for families and businesses,” explains White House press secretary Karine Jean-Pierre.
Zach Johnson USA