US steel industry and labor groups urge Biden administration to maintain steel tariffs

US steel industry and labor groups urge Biden administration to maintain steel tariffs

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Groups representing the US domestic steel industry and labor unions sent a letter to President Joe Biden today, urging his administration to maintain Section 232 tariffs on imported steel.

The letter, signed by the American Iron and Steel Institute (AISI), United Steelworkers union (USW), Steel Manufacturers Association (SMA), the Committee on Pipe and Tube Imports (CPTI), Specialty Steel Industry of North America (SSINA), American Institute of Steel Construction (AISC) and Alliance for American Manufacturing (AAM), stated that the tariffs have been a success, allowing steel producers to restart idled mills. The letter also pointed to mills’ plans to invest more than $15.7 billion in new or upgraded facilities.

The letter noted that opponents of the tariffs argue that Section 232 should be lifted to increase steel supply in the US and address the surge in steel prices. The associations signing the letter said that many industries are experiencing supply shortages due to the COVID-19 pandemic, and steel markets around the world are also experiencing record high prices and long lead times.

The letter also said that “domestic steel supply is responding to market signals,” noting production has increased by more than 50 percent in the last year and steel mill employment has increased by nearly 3,000 since September.

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