BIS: Investigation of imports of steel | KPMG | US

Commerce's request for comments, hearing on investigation of steel imports

Request for comments on investigation of steel imports

The Bureau of Industry and Security (BIS) of the U.S. Commerce Department today released for publication in the Federal Register a notice requesting public comments and public hearing on section 232 of the Trade Expansion Act of 1962, to determine the effects on the national security of imports of steel. Comments must be received by May 31, 2017.

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Read the BIS notice [PDF 178 KB]

 

BIS is particularly interested in comments and information including the following: 

  • Quantity of steel or other circumstances related to the importation of steel
  • Domestic production and productive capacity needed for steel to meet projected national defense requirements
  • Existing and anticipated availability of human resources, products, raw materials, production equipment, and facilities to produce steel
  • Growth requirements of the steel industry to meet national defense requirements and/or requirements to assure such growth
  • The effect of foreign competition on the economic welfare of the steel industry
  • The displacement of any domestic steel causing substantial unemployment, decrease in the revenues of government, loss of investment or specialized skills and productive capacity, or other serious effects
  • The displacement of any domestic steel causing substantial unemployment, decrease in the revenues of government, loss of investment or specialized skills and productive capacity, or other serious effects
  • Relevant factors that are causing or will cause a weakening of our national economy
  • Any other relevant factors

Background

On April 19, 2017, the Secretary of Commerce initiated an investigation under section 232 of the Trade Expansion Act of 1962, to determine the effects on the national security of imports of steel. On April 20, 2017, the president signed a memorandum directing the secretary to proceed expeditiously in conducting his investigation and submit a report on his findings to the president. The president further directed that if the secretary finds that steel is being imported into the United States in such quantities or under such circumstances as to threaten to impair the national security, the secretary must recommend actions and steps that must be taken to adjust steel imports so that they will not threaten to impair the national security. Read TaxNewsFlash-Trade & Customs

 

For more information, contact a professional with KPMG’s Trade & Customs practice:

Douglas Zuvich | +1 (312) 665-1022 | dzuvich@kpmg.com

Andrew Siciliano | +1 (631) 425-6057 | asiciliano@kpmg.com

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