Final Thoughts

With the exception of ArcelorMittal and Cliffs Natural Resources, the U.S. steel industry passed on making statements about climate change and how much the steel industry has done over the past twenty years to minimize its carbon footprint and to reduce pollutants in the air and water. The rise of Electric Arc Furnaces (EAF) and recycling of ferrous scrap has had a major impact on the amount of blast furnace/BOF production and the need to take carbon out of iron ore and coal in order to make steel.

I am trying to catch up on some questions that were asked on various topics over the past week or so. One of the questions asked of me was, “A question that came through this morning regarding the President’s powers under the Section 232 statute. My understanding he will have free reign to stop imports, put in quotas or add tariffs. Can you fill in any holes in my understanding so I can share what options he has?” I received a response from Lewis Leibowitz on this question this evening: “The President has authority to limit imports if there is a valid national security finding by the Dept. of Commerce in consultation with the Defense Department.  Any remedy must address imports—it cannot include subsidies for domestic companies or measures that could affect domestic production as well as imports (such as production quotas).”