Trump orders probe into steel dumping
President Donald Trump directed his administration Thursday to expedite a just-launched investigation into whether steel imports are jeopardizing U.S. national security, saying, "This is not an area where we can afford to become dependent on other countries."
Executives from U.S. steelmakers, who support the review, stood behind Trump as he signed a memo directing Commerce Secretary Wilbur Ross to return recommendations in the "very, very near" future. Trump said that could be as soon as 30 to 50 days.
Trump promised as a candidate to revitalize the American steel industry, the decline of which has been especially hard on states like Pennsylvania that were crucial to his victory.
The president said maintaining steel production is critical to U.S. security interests because it is needed to build airplanes, ships and other machinery, along with roads, bridges and other infrastructure. The American steel industry argues that if the U.S. is dependent on imported steel, it could be vulnerable if relations break down with nations that export it.
U.S. prominence in the industry has been slipping for decades. American-made steel once accounted for roughly 20 percent of global production, but had slipped to less than 5 percent by 2015, according to the Belgium-based World Steel Association. China made up less than 3 percent of U.S. steel imports.
Trump couched the investigation as part of action he took earlier in the week to enforce existing "Buy American" laws.
"From now on, we're going to stand up for American jobs, workers and their security, and for American steel companies and companies in general," Trump said. "Today's action is the next vital step toward making America strong and prosperous once again."
In 2001, the Commerce Department found no evidence of a threat after it examined potential national security risks from importing semi-finished steel.
What has changed since 2001 is that China now accounts for half of steel production, such that excess output by Chinese factories —regardless of imports to the United States— can dampen prices for U.S. steelmakers.
Asked whether the move would affect his dealings with China over North Korea, Trump said: "This has nothing to do with China. This has to do with worldwide, what's happening. The dumping problem is a worldwide problem."
A 1962 trade law that gives the president authority to restrict imports and impose tariffs if they are determined to harming U.S. security interests outlines 270 days for such investigations.
- Gold, silver prices down
Job and Career Fair kicks off
The Job and Career Fair that aims to provide job opportunities for youths started here Friday. Minister for Labor and Employment Farmullha Mansoor inaugurated the two-day fair amid a program at the Nepal Police Club Friday. The expo is organized by the Adhikari Creative Concern.
NCEA's general assembly picks new working committee
The 12th General Assembly of the Nepal Carpet Exporters' Association held Friday in the capital has unanimously chosen an 18-member new working committee. Ram Bahadur Gurung has been elected President while Dipak Bajracharya senior Vice President.
- Gold, silver prices up
- Changing vehicle equation
The Doklam dilemma
Being a buffer state between the two giant neighbors, Nepal should conduct its foreign policy vis-à-vis China and India in a very sensitive manner. Nepal has always maintained that it would not allow its soil to be used against any neighbor. At the same time, Nepal should make sure that its own national interests are never compromised.
Gaurab Shumsher Thapa
Effect of monetary policy on risk, stability and financial crises
The crisis of 2008–09 has reignited a new interest in understanding money and credit fluctuations in the macro economy, and the crucial roles they could play in the amplification, propagation, and generation of shocks both in normal times and, even more so, in times of financial distress. This may reopen a number of fundamental fault lines in modern macroeconomic thinking between theories that treat the financial system as irrelevant, or, at least, not central to the understanding of economic outcomes, and those that reserve a central role for financial intermediation.
The return trip
It took us over five hours, drenched in rain, walking through treacherous ratomato sluggishly. It should not have taken more than two hours in a normal day. It was the cruellest irony that no sooner did we reach Panchkhal and sat at the Pipal Chautari to rest, than the bus we had left behind, arrived with people in the bus bursting with laughter on seeing us.
Prospects for Nepali talents in the Diaspora
When Indu, a Nepali American teen studying in Virginia, asked Panta whether she could inspire Nepali youngsters into music industry and convince their parents to consider Nepali music as a path to professionalism, the female heartthrob of Nepali music could not fully convince her.
Traffic Police in Kathmandu
As busy and hassling as the traffic system in Kathmandu is, the Traffic Police here have to handle an equally strenuous job. Over 1,400 traffic officers in and around the Kathmandu Valley battle against the pestering traffic and air pollution each day.
Menstrual taboo outdated
I have seen my sisters and friends isolated and treated in discriminatory manner during their first menstruation cycle. They were not allowed to look at the sun, to touch water source, flower, fruits, any male family member, nor even hear their voice. The activist may claim the situation has changed and I do agree but still during every month my loved ones turns into untouchables beings.