Century Aluminum Company Commends Commerce Department Section 232 Report on Aluminum

Century Aluminum Company Commends Commerce Department Section 232 Report on Aluminum

"On an average month, China produces almost as much steel as the US does in a year".

"Each of these remedies is meant to increase domestic steel production from its present 73% of capacity to approximately an 80% operating rate, the minimum rate needed for the long-term viability of the industry", Ross said in a press conference. And the kind of sanctions Ross is recommending will cause major conniption fits in Republican and business circles, in part due to their potential effect on companies and products utilizing imported steel and aluminum, but mostly because of the potential for retaliation by affected countries, especially China.

The President is required to make a decision on the steel recommendations by April 11, 2018, and on the aluminum recommendations by April 19, 2018.

Other options would impose either higher tariffs or quotas on steel and aluminum imports.

Each of these remedies is meant to increase domestic steel production from its present 73% of capacity to approximately an 80% operating rate, the minimum rate needed for the long-term viability of the industry. At present, domestic steel plants are running at 73 percent of capacity and aluminum plants at 48 percent.

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Ross said that the decline in production capacity is "weakening our internal economy and may impair our national security", in the report.

Another is a tariff of at least 53 percent on all imports from 12 countries including China, South Korea, Thailand and Vietnam.

-Impose a quota on steel and aluminum imports from everywhere, limiting each country 63 percent of the steel and 86.7 percent of the aluminum they shipped to the US a year ago. In the early afternoon, shares of United States Steel Corp. were up 10 percent, shares of AK Steel Holding Corp. were up more than 11 percent and shares of Century Aluminum Co. were up almost 7 percent. Recommendations included a tariff of at least 24 percent on all steel imports and a tariff of at least 7.7 percent on all aluminum imports.

Since the United States joined the World Trade Organization in 1995, it has only pursued two such investigations.

The USW represents 850,000 workers in North America employed in many industries that include metals, rubber, chemicals, paper, oil refining and the service and public sectors. We call on President Trump to act swiftly and boldly to save the American aluminum industry.

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