- American steel industry executives have appealed directly to Pres. Trump for immediate import restrictions, saying the industry is suffering the consequences of government inaction which could change with his "bold leadership," Reuters reports.
- "Since the 232 investigation was announced in April, imports have continued to surge," the letter reportedly says; the Commerce Department has delayed the release of its recommendations from a "Section 232" investigation into whether steel imports pose a threat to national security, which could lead to Trump imposing broad quotas or tariffs on steel imports.
- The American Iron and Steel Institute trade group yesterday reported that total steel imports through July rose 22% Y/Y, with imports taking 28% of the U.S. market.
- Relevant tickers: SLX, X, NUE, MT, AKS, RS, CLF, STLD, WOR, CMC, SCHN
- Now read: Schnitzer Steel Industries, Inc. 2017 Q3 - Results - Earnings Call Slides
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