The US Department of Commerce said in a notice that the minister Wilbur Ross submitted the findings to the White House last Thursday, and the announcement did not reveal its proposal of action plan. The president has 90 days to respond to any threat, including tariffs or quotas, or talks with foreign producers for solutions.
From April last year, the Ministry of Commerce began to investigate the impact of imported steel on national security, based on the 232nd articles of the Trade Expansion Act 1962. If the Ministry of Commerce finds evidence that imports threaten national security, the 232nd will allow the president to adjust its imports unilaterally without the vote of Congress. The Ministry of Commerce said on Thursday that once the decision was announced by Trump, the Ministry will open the report. A similar survey of the import of aluminum by the Ministry of Commerce will be completed later this month.
Tariffs on commodities such as steel, which are widely used, are bound to be annoying and China, the largest steel producer in the world. Tensions between the world’s two largest economies have intensified recently. Trump called China and Russia together, calling them challenging the power of the United States and destroying their economic interests. When Trump made a decision, it coincided with the subtleties of the geopolitics of Asia. Even if the United States increased pressure to urge China to speed up its economic reform, it has been demanding that China help to curb North Korea’s nuclear ambitions.
China steel accounted for only a fraction of US imports, but the Trump administration accused Chinese through third countries exports to the United States, and Chinese overcapacity low global steel prices.
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Post time: Mar-07-2018