Trump might impose tariffs and quotas on foreign steel - KFBB.com News, Sports and Weather

Trump might impose tariffs and quotas on foreign steel

Posted: Updated:

By JOSH BOAK
AP Economics Writer
    
WASHINGTON (AP) - President Donald Trump is considering putting tariffs and quotas on steel imported from foreign countries.
    
The president says that China and other unnamed countries are dumping steel in the U.S. market. That hurts U.S. steelmakers by reducing prices, he told reporters. The comments were initially said to be off the record, but the White House decided to make them public Thursday.
    
Trump says, "We're like a dumping ground, OK?  They're dumping steel and destroying our steel industry."
    
He says he is considering both quotas and tariffs to stop any dumping.
    
The Commerce Department is reviewing at his request whether to impose a tariff on steel imports for national security reasons.
    
The U.S. imports 30 percent of the steel it consumes. Only 3 percent of steel imports come from China.

(Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

  • Most Popular

Powered by Frankly
Copyright - All content © 2001 - 2017. All Rights Reserved. For more information on this site, please read our Privacy Policy, Terms of Service, and Ad Choices.