Steel News

Economist: Section 232 Tariffs Have Helped Support Nearly US$13 Billion in Steel Investments

3/14/2019 - The Section 232 steel and aluminum tariffs do not appear to have slowed the broader economy and have helped drive investments in those two sectors, according to Economic Policy Institute senior economist Robert Scott.

Speaking during the 15th annual Platts Steel Markets North America conference in Chicago, Ill., Scott said that by his count, the primary steel mills have announced US$12.9 billion worth of projects and created approximately 6,700 jobs since the tariffs were imposed last year.

Additionally, 38 downstream steel projects, representing US$2 billion in new investment, have been announced.

“So the message here is that the steel tariffs…have resulted in both increased investment in steel and aluminum and have created thousands of jobs,” he said.