The United States Must Keep Section 232 Tariffs on Steel in Place

Steel is the lifeblood of industrialized nations: the alloy is a key component in buildings, cars, railroads, ships, solar panels, and wind turbines. In 2017, the US steel industry accounted for more than $520 billion in economic output, generated $56 billion in federal, state, and local taxes, and supported nearly two million jobs. Given this mammoth impact on the economy, it’s only natural that policymakers work to support and encourage this vital industry. The Trump administration took this step in 2018 by implementing tariffs under Section 232 of the 1962 Trade Act, which have so far been upheld by the Biden Administration. Over the past three years, these tariffs have succeeded in helping to increase the competitiveness of the US steel industry, bolstered national security, and benefited the US economy, and for these reasons ought to remain in place for the near future. ​

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