Government/Policy
US Govt Exploring Economic Impact of 232, 301 Tariffs on Industry
Written by Laura Miller
May 11, 2022
At the request of the House and Senate Committees on Appropriations, the US International Trade Commission has begun an investigation into the economic impact of the Section 232 and 301 tariffs on US industry.
The Commission is asking for detailed information on US trade, production, and prices in the industries that have been most affected by the tariffs.
Section 232 tariffs on steel and aluminum imports and Section 301 tariffs on imports from China have been in place since 2018, when then-President Trump invoked the duties in the interest of national security. The US steel industry has been bolstered by the tariffs, with many mills and service centers posting record profits and sales quarter after quarter.
In addition to asking for written submissions, the agency will hold a public hearing on the matter on July 21 in Washington, D.C. Deadlines for submitting comments are posted in a notice in the Federal Register.
The Commission intends to issue its final report to the Committees on Appropriations by March 15, 2023.
By Laura Miller, Laura@SteelMarketUpdate.com
Laura Miller
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