Business
What They Are Saying: President Trump Strengthens U.S. Steel, Aluminum, and Copper Industries with Historic Action
WASHINGTON, D.C. – President Donald J. Trump is committed to supporting the U.S. steel, aluminum, and copper industries and accelerating the industrial base
About this update from United States Steel Corporation
[{"type":"text","content":" WASHINGTON, D.C. – President Donald J. Trump is committed to supporting the U.S. steel, aluminum, and copper industries and accelerating the industrial base buildout currently underway across the United States. Last week, the President signed a Proclamation that strengthens tariffs on imported strategic metals and addresses the national-security threat posed by these imports. The Proclamation defines the way that tariffs are assessed, ensuring that they reflect the full value of imported steel, aluminum, and copper products and protecting domestic producers from artificially low foreign prices. The Proclamation also establishes clear rules for calculating Section 232 metals tariffs. Among other updates to the tariff schedule, the President set the rates for articles made entirely or almost entirely of aluminum, steel, or copper at 50% on their full value and for derivative articles substantially made of steel, aluminum, or copper at 25% of their full value. Read the full Proclamation here. What They Are Saying: “AISI commends the decisive action taken today by President Trump to ensure that all steel mill products, including steel pipe and tube, receive the full benefit of the 50 percent tariffs on steel products. We also welcome the steps being taken today to simplify the process for applying the steel tariffs to critical steel derivative products… AISI thanks President Trump for his continued strong and unwavering support for the steel industry in the United States, which is essential to our nation’s national and economic security.” – Kevin Dempsey, president and CEO of the American Iron and Steel Institute “The Steel Manufacturers Association applauds the Trump Administration’s actions today to strengthen the Section 232 steel tariffs. By right-sizing the derivatives list and updating the valuation of steel-containing goods, these measures reinforce President Trump’s signature trade achievement, ensuring the tariffs remain precisely targeted to support the revitalization of the American steel industry without undermining broader economic goals…We thank the President and his team for prioritizing the revitalization of the American steel industry.” – Philip K. Bell, president and CEO of the Steel Manufacturers Association “President Trump’s Executive Order is a necessary step in the right direction to fully enforce the 5...