Final Thoughts

Final Thoughts
Written by John Packard
July 26, 2017
It is much like a broken record playing 232, 232 over and over again. I read an article on World Trade Online this morning that quoted White House trade advisor Peter Navarro who said, “…the Trump administration’s trade moves over its first six months will pale in comparison to the ‘amazing’ steps it will take over the next six, with national security investigations of steel and aluminum imports expected to ‘bear fruit’ soon.” The comments were made during a July 26 interview with radio host Laura Ingraham.
Navarro, when asked about the president’s suggestion that the Section 232 investigation of steel imports wouldn’t happen as soon as expected, said, “the delay, as it were, is because the Department of Commerce must finish an investigation under the 232 statute, and if the secretary comes in with a finding that national security is harmed, then the president can act. So we’re waiting for that report. The secretary of commerce is doing a measured, detailed job.”
He mentioned the 9th Circuit Court as one reason they need to follow the process carefully as they do not want any action blocked by the courts.
Navarro also said that China would not get WTO full equality status (free market status). He said U.S. Trade Representative Robert Lighthizer would be fighting that battle, which is very high on the priority list at USTR.
It looks like our conference may well be headed to 600 attendees. We crossed through 550 this week and the registrations keep on coming. In the last two days we have seen new registrations from: CareGo, Precoat Metals, BlueScope Buildings North America, Kloeckner (3), Nidec Minster Corp., Cargill, Eaton Corp., Mainline Metals, Tata Steel International (3), Miami Valley Steel Service (3), Mitsui & Company USA and Campbell Soup.
If you would like more information or wish to register, you can do so on our website or by contacting our offices at 772-932-7538 or 706-216-2140.
I checked with Brett Linton in my office earlier today to see how many people have “gone live” on our SMU Events App. Of the 539 people who were included in the first “dump” into the App (more to come soon), we know at least 100 have gone in and looked around the App. The App will play an important part of your conference experience, and we highly recommend downloading the App now so you can acquaint yourself with all of the features, search for attendees, review our schedule and speakers, and take the short little poll we have on the App when you first log in. You can download the App in your smartphone store. If you already have the App from one of the past two years, all you need to do is switch events to the Steel Summit 2017 Conference. If you have questions, please reach out to: Brett@SteelMarketUpdate.com.
As always, your business is truly appreciated by all of us here at Steel Market Update.
John Packard, Publisher

John Packard
Read more from John PackardLatest in Final Thoughts

Final Thoughts
An exciting first look at the results from SMU's first scrap survey.

Final Thoughts
As Wolfe Research’s Timna Tanner put it in her opening talk at Tampa on Monday afternoon, we’re living in a world of “Trumplications” now. That probably means – at least in the short term – higher scrap costs, lower imports from countries hit with or threated tariffs, and higher steel prices. SMU data reflects that. Scrap went up in January. More than 75% of the respondents to our more recent survey expect scrap to go up again February, maybe by a lot. Lead times, meanwhile, have been ticking upward this month. It started with hot-rolled coil and plate earlier this month. Now we’re seeing coated lead times extending too.

Final Thoughts
We joked in our last Final Thoughts that Wiley trade attorney Tim Brightbill – one of the nation’s leading experts on trade law and policy – would probably be revising his presentation on Trump, trade policy, and tariffs for the Tampa Steel Conference. He did. And even after those last-minute revisions, he actually got trumped […]

Final Thoughts
The whole SMU team is packing up our laptops and our SMU polos/cardigans, loading up the PowerPoint slides, and preparing to make the trek down to Florida for the Tampa Steel Conference. There will be plenty to talk about!

Final Thoughts
From one group of folks, I’ve heard that Trump might not wait until Feb. 1 – the date he threatened on to place tariffs on China, Canada, and Mexico. They say he could act as soon as Friday. And then there are those who don’t think anything will happen before April 1. That’s the deadline for Commerce, Treasury, and USTR to submit key reports on “America First Trade Policy” to President Trump.