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Trump to American steelworkers: I've got your back

Blackstone CEO: Infrastructure most important for Trump

President Trump and Commerce Secretary Wilbur Ross have a message for big American steel companies. We'll protect you.

Ross said Thursday that the Commerce Department plans to launch an investigation into whether or not foreign steel companies, particularly those from China, are dumping steel on the U.S. market.

Ross argued that China is not acting in good faith to cut back on exports.

He said in a press conference that steel imports "have continued to rise, and they've continued to rise despite repeated Chinese claims that they were going to reduce their steel capacity when instead they have actually been increasing it consistently."

Ross noted that steel imports are up nearly 20% so far this year and that foreign steel now makes up more than a quarter of the entire U.S. market. He said that has had "a very serious impact" on the domestic steel industry and that it could impinge on "our economic and national defense...


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