Tipton: Safeguarding Steel Industry Jobs Critical for Economic Recovery, National Security
WASHINGTON—Congressman Scott Tipton (CO-03) sent a letter to Speaker of the House Nancy Pelosi and Republican Minority Leader Kevin McCarthy, requesting that they uphold the Trump Administration’s Section 232 steel tariffs on China as additional COVID-19 relief legislation is considered. Tipton’s calls to keep these tariffs in place comes after recent findings from a Department of Commerce countervailing investigation showed the China Communist Party (CCP) continues to utilize deceptive practices to manipulate the United States’ domestic steel production market while simultaneously incentivizing Chinese businesses to keep steel prices below market price.
“CCP’s efforts to harm domestic steel production in the United States in not only a grave economic concern, but also a matter of national security,” Tipton’s letter reads. “The Trump Administration instituted the 232 tariffs against China to hold both it and the CCP accountable for dumping steel into American markets and undermining our domestic steel industry. These tariffs safeguard America’s vital steel industry and its workers, as well as protect the national security interests of the United States. It is important that our trade policies uphold the Section 232 tariffs.”
The recent report cited in the letter shows that producers or exporters subsidized by the Chinese government have sold collated steel staples at less than fair value rates in the United States ranging 96.15 percent to 122.55 percent.
According the American Iron and Steel Institute, there are approximately 1,590 jobs (pre COVID-19) in the steel industry in Colorado’s Third District, which have an annual direct output of over $1.16 billion to the economy.
Tipton’s letter can be found here.