Bost Statement on Commerce Department’s Steel Report
Washington, DC – U.S Representative Mike Bost (IL-12) issued the following statement today after the U.S. Commerce Department announced findings from its investigation into whether foreign-made steel imports threaten U.S. security:
“These findings show that America’s steel industry is not only integral to our economy, but is vitally important to our national security as well,” said Bost. “As the report notes, steel produced by ‘operated integrated steel mills,’ such as U.S. Steel’s Granite City Works facility, is ‘especially important’ to our national security needs. Yet the amount of domestic steel produced by raw materials has fallen by half since 2000. Beyond the harm that unfair and illegal trade practices have done to our steel industry – most recently in Granite City – overreliance on foreign steel could seriously weaken our nation’s economy and security, especially in a national emergency. I will continue to work with U. S. Steel and its workers to find a solution that brings jobs back to the plant.”
“New technologies and practices have made it possible to produce more domestic oil and natural gas. Granite City Works has capability to serve this industry. The United States should maximize the job creating potential of this bounty,” added Bost.
The Commerce Department began an investigation in April 2017 into whether foreign-made steel imports threaten U.S. security. The study considered overcapacity, dumping, illegal subsidies, and other factors, to determine whether steel imports threaten to impair ‘national security.’ The Department of Commerce’s report finds that imports threaten to impair national security, and makes three specific recommendations the President may take.
The Administration has until April 11, 2018 to render a decision. The President may choose one of the recommendations, a modification of the recommendations, or decide to take no action.