AK Steel welcomes Trump’s announcement of tariffs on imported steels
US electrical steel maker AK Steel said in a statement that the company supports President Trump’s announcement today in which he indicated that next week he will formally announce significant tariffs on imported steels.
According to AK Steel, this follows the Section 232 investigation initiated by the Department of Commerce in April 2017 to assess the threats to the national security of the United States caused by unfairly traded imports. AK Steel Chief Executive Officer Roger K. Newport and leaders of other steel companies in the United States joined President Trump at the White House today to discuss Section 232 remedies.
“We support and commend President Trump for announcing today the actions he plans to take to stem the tide of unfairly traded steel imports that threaten the national security of our country,” said Roger Newport. “This is a strong, important step to combat the effects of global steel overcapacity and address actions by other countries to circumvent U.S. trade laws and orders designed to ensure a level playing field.”
AK Steel is the only steel manufacturer in North America that produces carbon, stainless and electrical steels.
Photo (for illustrative purpose): Tata steel