Sent on March 7, the letter said that previous exemptions increased the volume of imports, weakening the tax effects of Trump's first term.
Eight industry executives, includingNucor Corp. CEO Leon Topalian, United States Steel Corp. David Burritt, CEO of United States Steel Corp. and Lourenco Goncalves, CEO of Cleveland-Cliffs Inc. emphasized that these exemptions pose a threat to national security. The CEOs said the tariff exemptions leave the weakened USA steel industry vulnerable to global steel oversupply.
The letter included the following statements: “Exemptions have been granted for millions of tons of products, even those that are readily available from domestic suppliers. The result is that the USA steel industry is once again facing a crisis. Please resist all requests for exemptions and continue to stand strong for American steel.”
The letter stands out as a call to improve the situation of the steel industry, which is struggling under President Trump's trade policies.
Comments
No comment yet.