• Skip to main content

    Government/Policy

    Price: What’s next for the IEEPA tariffs?

    Written by Alan Price & John Allen Riggins


    This week’s column was going to address how the Trump administration could use its tariff leverage to combat the global steel excess capacity crisis. But, on Wednesday, that calculus changed — at least for now. The US Court of International Trade (CIT) found that the administration could not use the International Emergency Economic Powers Act (IEEPA) to impose tariffs. The CIT’s decision and subsequent activity at the US Court of Appeals for the Federal Circuit left many importers, manufacturers, and even casual observers wondering: What’s next?

    First things first, it is important to understand the scope of the CIT’s decision. The CIT is well known to trade attorneys but is not necessarily a household name. The court has exclusive jurisdiction over disputes involving import duties and has previously reviewed challenges to the Trump administration’s tariff actions. For example, during the first Trump administration, the CIT upheld the use of Section 232 to impose tariffs on steel and aluminum imports.

    Alan Price

    Read more from Alan Price

    John Allen Riggins

    Read more from John Allen Riggins

    Latest in Government/Policy

    Price on Trade: Steel’s zero-sum game

    During the first three quarters of 2026, finished steel imports from South Korea increased 50.8% compared with the same period in 2025. Imports from Vietnam increased 23.4%, imports from Turkey increased 49.5%, and imports from India increased 29.5%. Those are not marginal increases. They are substantial import surges, especially in a US market where apparent domestic consumption has bounced around but has not grown since 2017. More importantly, these import surges are arriving at lower average unit values (AUVs).

    Commerce updates duties on Japanese HR

    The US Department of Commerce has adjusted anti-dumping duties on imports of hot-rolled flat steel products from Japan. The adjustment has lowered duties for one company but raised them for others. Commerce made the adjustments in the final results of an administrative review of the year ended Sept. 30, 2024. The agency set a final weighted-average dumping margin of 13.96% for Nippon Steel companies. This is lower than the company’s previous rate of 29.7%.

    Leibowitz: US steel prices skyrocket above world prices. Which are right?

    Steel markets in the United States now feature supply shortages. Spot tons are well-nigh unavailable, and even contract tons are scarce. Based on the available statistics, the US market for flat-rolled products is seriously constrained. The US economy is still the strongest in the world, and manufacturing output remains vigorous. But the available supply is tight. The reason is fairly obvious. US domestic supply has increased a bit. Meanwhile, imports have fallen significantly.