AISI President and CEO Kevin Dempsey stated in a written statement that it is critically important for the US government to maintain its steel tariffs imposed on national security grounds. Emphasizing that steel is not just a commodity but also a strategic asset in terms of national security, Dempsey said that overcapacity in the global steel industry poses a serious threat.
Citing estimates from the Organization for Economic Cooperation and Development (OECD), Dempsey reported that excess capacity in the global steel industry currently stands at 680 million metric tons and is expected to rise to 721 million metric tons by 2027. The statement said that foreign government subsidies and trade-distorting policies were fueling this capacity increase.
Dempsey stated that Section 232 steel tariffs are vital in preventing this excess capacity from being directed toward the US market in the form of harmful import waves, adding that weakening the tariffs would pose a serious risk to the health of the American steel sector and US national security.
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