2018-01-12 — cnbc.com
The U.S. Commerce Department said on Thursday it had completed its probe into whether imports of certain steel products threatened U.S. national security and sent its conclusions to President Donald Trump. In a statement that offered no indication of the investigation's findings, the Commerce Department said Trump now has 90 days to decide "on any potential action."
The probe could lead to broad tariffs or import quotas.
In August, senior executives from 25 U.S. steel and steel-related companies sent a letter to Trump asking for immediate import restrictions. The executives from companies including Nucor, U.S. Steel, ArcelorMittal and Commercial Metals said the sustained surge of steel imports into the United States had "hollowed out" much of the domestic steel industry and was threatening its ability to meet national security needs.
Critics charge that using national security to erect steel tariffs could trigger a trade war with China, undermine the global rules-based trading system and hurt U.S. allies more than China and damage global growth prospects.
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