Washington, D.C. - Senate Finance Committee Ranking Member Sen. Ron Wyden, D-Ore., today slammed the administration, after Commerce Secretary Wilbur Ross said the Administration is delaying action on steel being dumped in the United States to boost Republicans’ partisan attempt to cut taxes for the wealthy and multinational corporations.
“The administration is creating a crisis for American steel of its own making. By prematurely announcing a poorly defined investigation into foreign steel imports, Commerce invited a flood of new imports looking to get ahead of new tariffs," Wyden said. “Now, by delaying a decision, the administration is only amplifying the damage these imports will do to American steelworkers and mills already suffering from a global glut of foreign steel."
Background:
In April, the President launched an investigation into whether imports of foreign steel were threatening U.S. national security within the meaning of Section 232 of the Trade Expansion Act of 1962. Since that time, steel imports have surged by 21%.
