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Trump Vows to Curb Steel Dumping as He Mulls Tariffs, Quotas

  • China and other countries dumping steel in U.S., Trump says
  • Shares in U.S. steel companies surged on the announcement

U.S. President Donald Trump promised to crack down on dumping of cheap steel by foreign competitors, adding that he’s considering imposing new tariffs or quotas on imports.

“Steel is a big problem. Steel is -- I mean, they’re dumping steel. Not only China, but others,” Trump told reporters Wednesday evening on Air Force One on a trip to France. “We’re like a dumping ground, OK? They’re dumping steel and destroying our steel industry, they’ve been doing it for decades, and I’m stopping it. It’ll stop.”

The president said there are two ways the U.S. can stop dumping, by imposing tariffs or quotas on steel imports. “Maybe I’ll do both,” he said.

U.S. steelmaking stocks headed for their best week in four months following the publication of Trump’s comments on Thursday. AK Steel Holding...