Tags: wilbur ross | commerce | steel | price | hikes | tariffs

Wilbur Ross: Commerce Investigating Steel Price Hikes After Tariffs

Wilbur Ross: Commerce Investigating Steel Price Hikes After Tariffs
(Christian Lagereek/Dreamstime)

Wednesday, 20 June 2018 11:21 AM EDT

U.S. Commerce Secretary Wilbur Ross said on Wednesday his agency is launching an investigation of recent steel price hikes to determine whether some market participants are "illegitimately profiteering" from new U.S. tariffs.

Ross told a Senate Finance Committee hearing that the price of steel in the U.S. market has risen far more than justified by the 25 percent tariff, possibly because of "speculative activity" with some market intermediaries holding back inventories. 

© 2024 Thomson/Reuters. All rights reserved.


Markets
U.S. Commerce Secretary Wilbur Ross said on Wednesday his agency is launching an investigation of recent steel price hikes to determine whether some market participants are "illegitimately profiteering" from new U.S. tariffs.
wilbur ross, commerce, steel, price, hikes, tariffs
71
2018-21-20
Wednesday, 20 June 2018 11:21 AM
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