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Estimated Economic Effects of Proposed Import Relief
Remedies for Steel
Executive Summary
I. Introduction
II. How Did We Get Here?
III. Estimated Impacts of the Proposed Remedies
Appendixes
Technical Appendix
I. Introduction
On December 19, the U.S. International
Trade Commission (ITC) formally sends to the President several recommendations
for restraints on steel imports. Most of the Commissioners will
recommend tariffs ranging from 8 to 40 percent, depending on the
steel product. One Commissioner will recommend quotas. Under the
statute, the President must decide no later than March 6 whether
to provide relief and, if so, the amount of the relief.
This study reports the results of a comprehensive
analysis of the likely impact of the imposition of the ITC’s proposed
remedies on the U.S. economy generally, as well as the specific
impacts on the U.S. steel industry, and U.S. steel-consuming industries.
It employs state-of-the-art modeling techniques – the same used
by the U.S. Government and international organizations – to measure
the impacts on the economy of the imposition of a range of tariffs
on steel imports into the United States. Section II summarizes
the history of the investigation. Section III presents the results
of the modeling exercise. Appendices present summaries of the ITC
Commissioners’ votes, and a technical appendix details the model
used to obtain the results presented in Section III.
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