U.S. Steel Tariffs Survive Another Challenge
02/05/2021 - The U.S. Court of International Trade has upheld the Section 232 steel and aluminum tariffs, ruling against a group of steel users who argued that the way the tariffs were imposed was flawed, reports the Reuters news service.
According to Reuters, the court sided against the users, ruling Thursday that the president has latitude to determine whether imports threaten the national security under the law.
Also on Thursday, American Iron and Steel Institute president and chief executive Kevin Dempsey, told industry participants that the tariffs must remain in place.
“As the U.S. economy grows, if we don’t have the [Section 232 steel tariff] program in place, we are going to see a new surge in imports that is going to be devastating at a point when the industry is making significant new investments in new capacity and important improvements,” Dempsey said during an industry event, according to commodities news and pricing service S&P Global Platts.