U.S. steel companies pushing for exemptions

U.S. steel companies pushing for exemptions

U.S. steel companies are pushing for Section 201 (S201) exemptions from the U.S. Commerce Department. More than 1,200 American steel firms using foreign steel products are requesting the tariffs be scrapped. The reasoning behind their move is companies say the tariffs are going to create millions in costs and end up causing layoffs in the sector. Their other reason is the fact that the products these firms use are only produced abroad so they argue they would not affect the domestic steel industry. Somewhat of a debate has ensued between unions and lawmakers in steel-states and steel firms that use foreign steel products. The unions and lawmakers are calling for a halt to more exemptions. So far, 251 steel products were granted exemptions and 253 were dismissed. Meanwhile, sources say that additional senators from steel-states and 45 members of the House Steel Caucus have urged Bush to halt more steel tariff exemptions. Lawmakers claim they support exemptions on foreign products. At the same time, they warned the Bush administration against blanket exemptions since in that case it would cancel out any affects they might have.