The U.S. Supreme Court declined to hear a legal challenge to the Section 232 tariffs of 25% on foreign-made steel, but they may be asked a second time to review the case.
The American Institute for International Steel, an Alexandria, Virginia-based trade association that represents buyers of steel from across the country, filed a lawsuit alleging it was unconstitutional for the Trump administration to impose tariffs protecting the American steel industry on national defense grounds. They lost after a judge ruled the president has wide-ranging authority on trade and national security, but they appealed the case.
"The American Institute for International Steel is disappointed that the Supreme Court did not agree to hear this case at this time," AIIS President Richard Chriss said. "It is rare for the Supreme Court to agree to hear a case before a ruling by the Court of Appeals, and our appeal will now be heard by the U.S. Court of Appeals for Federal Circuit. We continue to believe that we have a strong legal case that Section 232 is unconstitutional. Once the Federal Circuit has spoken, we expect that the losing party will ask the Supreme Court to review that decision."
The U.S. Supreme Court could again decline to hear an appeal, as it does with most cases brought before it.
“Currently, 232 national security measures have led to increased capacity utilization, industry job growth, and additional investment announcements by steel producers throughout the United States,” Steel Manufacturers Association President Philip K. Bell said. “President Trump imposed steel tariffs as a straightforward and effective measure countering against unfairly and illegally traded steel imports. Unfortunately, these imports continue to find their way to American soil.”
Steel imports are down 12% this year, according to the American Iron and Steel Institute. But despite the tariffs, steel prices are still in free fall, plunging from about $900 a ton last fall to about $550 a ton.
Source: nwi.com