U.S. to open steel dumping probe into Canada, Mexico, China: report

U.S. to open steel dumping probe into Canada, Mexico, China: report
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The Commerce Department is reportedly planning to open an investigation to determine whether Canadian, Mexican, and Chinese steel is being sold at unfairly-low prices.

Reuters reports that the Commerce Department will open a probe into fabricated structural steel imports following a tip the agency received earlier this month. A person briefed on the impending investigation told the news service that an announcement was planned for some time Tuesday.

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The International Trade Commission, which investigates trade disputes, is set to rule on the issue by March 21, according to Reuters.

A probe into steel dumping would come just months after the leaders of Canada and Mexico signed along with President TrumpDonald John TrumpDavid Axelrod after Ginsburg cancer treatment: Supreme Court vacancy could 'tear this country apart' EU says it will 'respond in kind' if US slaps tariffs on France Ginsburg again leaves Supreme Court with an uncertain future MORE an updated trade agreement touted by the Trump administration as a new North American Free Trade Agreement (NAFTA), as well as months of trade disputes with the Chinese government.

China and the U.S. are currently in the middle of high-level trade talks as the two sides hope to hammer out a trade deal addressing other alleged unfair trade practices before a March deadline.

Reuters reports that a Canadian steel trade group slammed the Trump administration's accusations of steel dumping earlier this month, calling such claims "baseless."

Allegations “that these products from Canada are unfairly traded and cause injury to U.S. producers of fabricated steel products are baseless," wrote the Canadian Institute of Steel Construction.

Trump said last month that his trade actions "saved" America's steel industry, pointing to dozens of steel mills which have reopened in recent months. Steel prices, however, have fallen back down to pre-tariff levels, according to The New York Times.

"Tariffs on the “dumping” of Steel in the United States have totally revived our Steel Industry," the president tweeted in late January. "New and expanded plants are happening all over the U.S. We have not only saved this important industry, but created many jobs. Also, billions paid to our treasury. A BIG WIN FOR U.S."