President Trump said a possible crackdown on imported steel for national security reasons is still in the works but will take more time.  Trump told the Wall Street Journal in an interview on Tuesday that “we don’t want to do it at this moment” and said the Commerce Department’s plans to produce a report by the end of June were hampered by the complexity of the issue and widespread opposition from business groups, trading partners and infighting within the White House.

“You can’t just walk in and say I’m doing to do this,” Trump said. “You have to do statutory studies … It doesn’t go that quickly.”  The president didn’t say when a decision would be made on how to proceed but the WSJ said that Trump indicated he would make a move “fairly soon.”

“We’re going to be addressing the steel dumping; the steel issue is a very unfair situation.” Trump said.

Trump recently told reporters that he may slap both tariffs and quotas on countries he thinks are endangering the nation’s security as part of his campaign promise to better protect domestic steel producers.

Once the investigation does finally hit his desk, Trump will have to determine whether to assess penalties under Section 232 of a 1962 trade law that gives the president the power to apply higher tariffs on imported steel for national security reasons.

Opponents warn any new tariffs on imported steel would have widespread negative effects from damaging the U.S. economy to threatening vital trading relationships.

Trump said a final decision on a steel will probably remain in a holding pattern until work on other major initiatives move forward.  “We’re waiting till we get everything finished up between healthcare and taxes and maybe even infrastructure,” he said.

Some trade experts argue that an increase in steel prices caused by any new taxes would probably restrict a significant overhaul the nation’s infrastructure.
(Source: TheHill)