Since President Trump of the United States announced in March 2018 to impose tariffs on imported steel and aluminum products on the basis of national security in accordance with Article 232, the negative effects have gradually emerged. The domestic steel prices in the United States were significantly lower than those before the tariffs were imposed. The steel enterprises increased their layoffs and some enterprises began to lose money in the third quarter.
At the same time, despite the decline in US steel prices, it is still higher than the rest of the world, and its competitiveness is reduced due to the rising cost of downstream steel users. An industry organization representing downstream interests sent a letter to members of the U.S. Congress, requesting that "sunset clause" be set for tariff based on 232 clause in the legislative reform (the "sunset clause" refers to the clause that stipulates the effective implementation period of various laws and normative documents). The law with "sunset clause" has set the effective implementation period of the law at the beginning of legislation, and it will automatically become invalid as soon as the time limit arrives).