This morning in metals news, a U.S. line pipe producing association is the latest group to urge President Donald Trump to act vis-a-vis Section 232, Tata Steel officially sheds a major pension liability and the U.S. once again invokes the possibility of withdrawing from the North American Free Trade Agreement (NAFTA).
ALPPA Asks Trump Administration to Take Action
The American Line Pipe Producers Association (ALPPA) is the latest U.S. metals association to petition the Trump administration to take action regarding its ongoing Section 232 investigation.
The Trump administration launched Section 232 investigations into steel and aluminum imports back in April, and has January deadlines for both.
In a letter to the Trump administration, Timothy Brightbill, counsel to the ALPPA, wrote: “There is an urgent need for immediate Section 232 relief for the domestic large diameter line pipe industry. The large diameter line pipe industry continues to face a sustained surge in imports, largely driven by global overcapacity. Chinese producers are increasingly shipping greater volumes of dumped and subsidized steel to other countries for production of large diameter line pipe that can then be shipped to the U.S. market at lesser duty rates or, in many cases, duty free.”
Tata Steel Gets Rid of U.K. Pension Scheme
One major holdup in Indian steel giant’s merger talks throughout the last year has been its £15 billion U.K. pension scheme, The Telegraph reported.
After much effort, Tata has finally rid itself of the massive pension liability, which should make merger talks go a little more smoothly.
Ross Adds NAFTA Threat of His Own
As the U.S, Mexico and Canada continued NAFTA renegotiation talks earlier this month, Trump, on numerous occasions, has threatened to pull the U.S. out of the trade deal.
On Friday, Secretary of Commerce Wilbur Ross further backed up the president’s comments about the 23-year-old trade deal, restating the president’s assertions that if a negotiated solution favorable to the U.S. can’t be reached, withdrawal is a serious possibility (if not a certainty).