This Morning in Metals: Tennessee Manufacturers Ask Trump to Rescind Steel Tariff

This morning in metals news, a group of Tennessee manufacturers sent the president a letter urging him to rescind the Section 232 tariff on imported steel, the Trump administration has proposed a new rule for emissions standards that would undo Obama-era limits and copper hit a one-week high.
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Manufacturers Ask Trump to Rescind Steel Tariff

A group of manufacturers in Tennessee have sent President Trump a letter asking him to remove the tariff on imported steel, The Tennessean reported.
According to the letter, the companies believe the tariff impacts their ability to compete with foreign companies.

“These employees and our businesses depend on access to competitively priced steel to fabricate our products and compete in a global marketplace,” the letter stated. “We cannot compete globally when the cost of our most important input has spiked and delivery times are extended.”

Trump Administration Proposes New Rule for Emissions Standards

The Trump administration Tuesday proposed a new rule governing emissions standards, which would undo Obama-era restrictions on carbon emissions, the Washington Post reported.
The Environmental Protection Agency (EPA) released a statement on what is being called the Affordable Clean Energy Rule.

“The ACE Rule would restore the rule of law and empower states to reduce greenhouse gas emissions and provide modern, reliable, and affordable energy for all Americans,” EPA Acting Administrator Andrew Wheeler said. “Today’s proposal provides the states and regulated community the certainty they need to continue environmental progress while fulfilling President Trump’s goal of energy dominance.”

Copper Bounces Back

Copper hit a one-week high Tuesday on the dollar’s losses and ahead of planned talks between the U.S. and China this week, Reuters reported.
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LME copper jumped 1% Tuesday, Reuters reported, rising to $6,053 per ton.