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PITTSBURGH, April 20, 2017 /PRNewswire/ -- Today, United States Steel Corporation (NYSE: X) issued the following statement in response to President Donald J. Trump's initiation of a Section 232 national security investigation.
The company's statement follows:
"A strong steel industry is at the foundation of America's economic and national security, and United States Steel Corporation is pleased that President Trump is initiating a Section 232 national security investigation by the Commerce Department."
"For too long, China and other nations have been conducting economic warfare against the American steel industry by subsidizing their steel industries, distorting global markets, and dumping excess steel into the United States. The effects have been staggering. Tens of thousands of workers in the American steel industry, the industry's supply chain and the communities in which our industry operates have lost their jobs due to unfair and illegal practices by foreign producers. We have offered the Commerce Department our full cooperation during its investigation."
SOURCE United States Steel Corporation