US Commerce Dept sends Trump steel probe findings, keeps details under wraps

Section 232 probe could reshape US steel industry in 2018

Section 232 probe could reshape US steel industry in 2018

The Commerce Department has sent President TrumpDonald John TrumpHouse Democrat slams Donald Trump Jr. for "serious case of amnesia" after testimony Skier Lindsey Vonn: I don't want to represent Trump at Olympics Poll: 4 in 10 Republicans think senior Trump advisers had improper dealings with Russia MORE the long-awaited results of its investigation into the national security implications of steel imports.

Last year, Trump told reporters that he may slap tariffs, quotas or a combination of both on countries he thinks are endangering the nation's security as part of his campaign promise to better protect domestic steel producers. After this submission, by law, the President has 90 days to decide on any potential action based on the findings of the investigation.

The probe could lead to broad tariffs or import quotas.

The Commerce Department launched its investigation in April.

Trump said later in July that a final decision could wait until other top priority issues on his agenda were addressed, including healthcare and taxes.

Neither the White House nor the Commerce Department has announced the contents of the report and whether the Commerce Department concluded that steel imports (or a particular subset of steel imports) pose a threat to national security. If they are accepted, the administration could then decide to impose quotas, tariffs, or a combination of both (a "tariff-rate quota") on imports that are found to threaten US national security.

In a statement, Bell called for "broad, meaningful and impactful" remedies that reduce the volumes of subsidised and dumped foreign steel products. Senate panel approves bill easing Dodd-Frank rules MORE (D-Ohio), who has for months been calling on the White House to take action, urged Trump to move swiftly.

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 USA allies more than China, as well as damage global growth prospects.