Trump Launches Trade Probe Into Chinese Steel

Trump Launches Trade Probe Into Chinese Steel

On Thursday, President Donald Trump launched an investigation to determine if Chinese and other foreign-made steel poses a threat to U.S. national security, a move which raises the possibility of new tariffs and should trigger a rally in U.S. steel stocks. The decision to launch the investigation comes as Trump is pressuring China to do more to rein in an increasingly belligerent North Korea. Earlier this month, Trump raised the possibility of using trade as a lever to coax China to do more while Chinese President Xi Jinping visited Trump in Florida. Administration officials claim there are national security implications from imports of steel alloys that are used in products such as the armor plating of ships and require a lot of expertise to create and produce.
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