Trump predicts NAFTA termination

President Trump began an investigation earlier This specific year into whether steel imports were threatening national security. Four months later, the steel industry wants action.

Executives coming from 25 steel companies in addition to also industry groups wrote a letter to Trump on Wednesday demanding the president act. They say excess steel capacity in addition to also rising imports are hurting the American steel industry.

‘;
var storytext = document.getElementById(‘storytext’);
var heightToSkip = 0;

function resetValues()
{
totalHeight = 0;
targetChildElement = null;
}

// Check if story can be inside the blacklist of articles to remove smartassets
// [2017.07.27] Results of a one-off request coming from r.barbieri
if(BLACKLIST[location.pathname] === true) {
return
}
if(storytext == null)
{
console.log(“Error finding storytext element for SA embed”);
return;
}


for ( i = 0; i 0)
{
heightToSkip -= storytext.childNodes[i].clientHeight;
resetValues();
}
else if(heightToSkip minHeight && targetChildElement != null)
{
//console.log(“total height = ” + totalHeight);
//console.log(“childNode = ” + targetChildElement);

storytext.childNodes[targetChildElement].insertAdjacentHTML(‘afterend’, smartAssetDiv);
smartasset = document.getElementById(‘smartasset-article’);
smartasset.style.float = ‘left’; // allows module to have text float to right
smartasset.style.marginRight =’20px’;
smartasset.style.marginBottom =’25px’;

//console.log(storytext.childNodes[targetChildElement]);
//SMARTASSET.setDivIndex(targetChildElement);
SMARTASSET.setSmartAssetScript();

/* bail out since we’re done */
break;
}

}

/* div with id=”smartassetcontainer”. Sanity check to only embed once */
else if (storytext.childNodes[i].nodeName.toLowerCase() === ‘div’ && storytext.childNodes[i].id !== “undefined” && storytext.childNodes[i].id === “smartassetcontainer”) {
break;
}

/* div with id=”ie_column” */
else if (storytext.childNodes[i].nodeName.toLowerCase() === ‘div’ && storytext.childNodes[i].id !== “undefined” && storytext.childNodes[i].id === “ie_column”) {
resetValues();
}

/* embeds coming from twitter, facebook, youtube */
else if (storytext.childNodes[i].nodeName.toLowerCase() === ‘div’ && storytext.childNodes[i].classList.contains(’embed’)) {
resetValues();
}

/* sy88pgw video player */
else if (storytext.childNodes[i].nodeName.toLowerCase() === ‘div’ && storytext.childNodes[i].classList.contains(‘cnnplayer’)) {
resetValues();
}

/* images */
else if (storytext.childNodes[i].nodeName.toLowerCase() === ‘img’)
{
resetValues();
}

/* images stored in figure tags */
else if (storytext.childNodes[i].nodeName.toLowerCase() === ‘figure’)
{
if(storytext.childNodes[i].clientWidth

“The need for action can be urgent,” the letter stated.

Trump had directed Commerce Secretary Wilbur Ross in April to launch the probe.

Ross originally said he hoped to wrap the idea up by the end of June, although the Commerce Department won’t give a brand-new estimate currently. An official told sy88pgw on Tuesday in which the administration can be “following the normal process of review.”

Since the announcement of the investigation, steel imports have continued “to surge,” the executives said. Imports in June captured 30% of the U.S. market in addition to also hit their highest monthly total in more than two years, the letter argued.

“The sustained surge of steel imports into the United States has hollowed out much of the domestic steel industry in addition to also threatens our ability to meet national security needs,” the leaders wrote inside the letter.

Related: Why hasn’t Trump used his ‘sledgehammer’ on trade?

The letter was signed by top executives coming from Nucor Corp. (NUE), ArcelorMittal USA (AMSYF), United States Steel Corp (X)., the American Iron in addition to also Steel Institute, in addition to also others.

Tougher trade policies were a centerpiece of Trump’s campaign. He lambasted China in addition to also Mexico for stealing millions of jobs coming from the United States, in addition to also he promised to bring those jobs back with better trade deals or punishing tariffs.

The United States can be the earth’s largest steel importer. Its top three import sources are Canada, Brazil in addition to also South Korea.

Under a 1962 law, if the president invokes national security as the reason for the investigation, he can impose tariffs as high as he wants without approval coming from Congress. He can also get around an independent panel of U.S. trade judges. A trade official coming from the Clinton administration told Bloomberg in May in which the law can be a “big sledgehammer.”

If Ross determines in which steel imports do threaten national security, the idea could start a trade war. The U.S. could probably impose tariffs, which could affect trade partners. Some or all could retaliate with tariffs on American products.

However, Trump hinted in July in which tariffs may not be coming soon, if at all.

He told The Wall Street Journal in which the administration could address steel tariffs after “we get finished up health care in addition to also taxes in addition to also maybe even infrastructure,” according to a transcript published by Politico. Congress has so far failed to pass health care legislation in addition to also hasn’t even taken up taxes or infrastructure.

sy88pgw (brand-new York) First published August 24, 2017: 5:45 PM ET