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September 11, 2017

MSCI Tells President He Must Act Swiftly, Decisively On Section 232 Steel Investigation

Last Thursday, Metals Service Center Institute (MSCI) President and CEO M. Robert Weidner, III and MSCI Chairman R. Holman Head sent a letter to President Donald Trump urging “swift, decisive action on the Section 232 steel investigation to bring certainty to the marketplace.” The letter noted that, since the president announced the investigation in April, steel imports have surged, hitting a 29-month high in June, and are up 22 percent through July over the same period in 2016.

The letter referenced MSCI’s Section 232 testimony and reminded the president that his administration “must consider both the upstream and downstream effects of any potential remedy.” MSCI is hopeful the Trump administration is getting ready to release its findings in it steel inquiry.

According to American Metal Market (subscription required), a top trade specialist at the U.S. Department of Commerce has said the agency’s Section 232 steel report is coming “soon.” The Commerce Department has until January to send results of its investigation to the White House and the official said it will submit its report well-before that deadline. Salim Bhabhrawala, an international trade specialist at the Commerce Department’s International Trade Administration, also said “all options” are still on the table.