SDI’s CEO confident that quotas will replace Section 232 for Mexico and Canada

Tuesday, 23 April 2019 01:12:37 (GMT+3)   |   San Diego

During the company’s first-quarter earnings call, Steel Dynamics Inc's (SDI) president and CEO Mark Millet stated that he anticipated that Section 232 tariffs would be replaced by quotas on Mexico and Canada by the end of the year and prior to the ratification of the USMCA (United States-Mexico-Canada Agreement). Quotas were described as a “better way to control steel imports.”

Millett added that he expected for North American steel consumption to continue a steady increase and praised the administration for a healthy domestic steel environment. Millet noted that the healthy demand expectations are allowing for SDI to expand with its almost $2 billion flat-rolled steel mill which is slated to come online during H2 2021 in either Texas or Louisiana.

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