U.S. President Donald Trump decided to launch a national security investigation of cheap steel import into the U.S. market.
According to Trump, steel is critical for both U.S military and economy, and that is not an area where Americans can afford to become dependent on foreign countries.
The Trade Expansion Act of 1962 allows the president to impose import restrictions if there is threat to U.S. security. According to the procedure, established by law, an investigation should be led by Commerce Secretary. The investigation could result in recommendations on whether to sweep tariffs on steel imports.