US importers challenge the call for more steel trade restrictions

The American Institute for International Steel recently hosted a forum in Washington DC for those likely to be negatively impacted by steel import restrictions that could follow the government’s ongoing Section 232 investigation. They included speakers representing US traders, ports and steel end-users who believe the outcome of the 232 case — aimed at limiting imports on national security grounds — could have negative economic consequences for the US and serve to ultimately weaken US security. “Restricting trade in steel will not enhance our national security. In fact, the opposite is true,” AIIS President Richard Chriss said. “Restricting trade, particularly trade that disrupts commerce, adversely affects our key allies, and that is highly likely to lead to retaliation, which weakens our national security, rather than strengthening it.” Chriss noted that his former boss, US Senator Charles Grassley, “often used to say that countries that trade together are unlikely to go to war against each other.” The AIIS claimed that while the US steel industry directly employs 142,000 American workers, an estimated 6.5 million are employed by steel-using manufacturers. “The important question is whether import restrictions can avoid doing more harm to steel consumers than any good to steel producers,” said international trade

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Source: CTRM Center

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