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Trump launches trade probe targeting foreign steel

Trump launches trade probe targeting foreign steel | 20 April 2017 | President Donald Trump moved on Thursday against China and other exporters of cheap steel into the U.S. market, launching a federal investigation to determine whether foreign-made steel threatens U.S. steelmakers and national security. Winning praise from U.S. companies that are constantly fighting with foreign competitors, Trump invoked a rarely-used trade law that raises the possibility of new tariffs. The action triggered a rally in U.S. steel stocks. At a White House ceremony where he was surrounded by U.S. steel executives, Trump signed a memorandum ordering the U.S. Commerce Department to probe the impact of steel imports on the U.S. defense industrial base.