Commerce Dept. to recommend tarrifs on steel and aluminum | TSLN.com

Commerce Dept. to recommend tarrifs on steel and aluminum

Commerce Secretary Wilbur Ross released reports on Commerce's investigations into the impact on national security from imports of steel mill products and from imports of wrought and unwrought aluminum, and said he would recommend tariffs on those items.

President Donald Trump will make the final decision on the tariffs.

"I am glad that we were able to provide this analysis and these recommendations to the president," Ross said in a news release. "I look forward to his decision on any potential course of action."

Ross said that he would recommend:

On steel

1. A global tariff of at least 24 percent on all steel imports from all countries, or

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2. A tariff of at least 53 percent on all steel imports from 12 countries (Brazil, China, Costa Rica, Egypt, India, Malaysia, Republic of Korea, Russia, South Africa, Thailand, Turkey and Vietnam) with a quota by product on steel imports from all other countries equal to 100 percent of their 2017 exports to the United States, or

3. A quota on all steel products from all countries equal to 63 percent of each country's 2017 exports to the United States.

On aluminum

1. A tariff of at least 7.7 percent on all aluminum exports from all countries, or

2. A tariff of 23.6 percent on all products from China, Hong Kong, Russia, Venezuela and Vietnam. All the other countries would be subject to quotas equal to 100 percent of their 2017 exports to the United States, or

3. A quota on all imports from all countries equal to a maximum of 86.7 percent of their 2017 exports to the United States.

Agricultural analysts and lobbyists have said they fear that the steel and aluminum-producing countries will retaliate by restricting imports of U.S. agricultural products.

–The Hagstrom Report