Tariffs Key To Managing Global Steel Production, Report Says
By Jennifer Doherty (March 24, 2021, 6:06 PM EDT) -- Rolling back national security tariffs on steel would spell disaster for U.S. producers while allowing adversaries with fewer pollution controls to take over market share, according to an Economic Policy Institute report released Wednesday.
The 25% levy on steel imports imposed by the Trump administration in 2018 successfully curbed the amount of steel entering the U.S. from abroad and boosted domestic production until the coronavirus pandemic hit, according to Adam Hersh and Robert Scott, co-authors of the report "Why Global Steel Surpluses Warrant U.S. Section 232 Import Measures."
However, the unilateral action alone has done little to slow the growth of steel...
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