U.S. Steel releases statement following President Trump directin - WBRC FOX6 News - Birmingham, AL

U.S. Steel releases statement following President Trump directing admin. to investigate company

Source: U.S. Steel Source: U.S. Steel

Alabama steelmakers watching a move by President Trump closely on Thursday.

Trump is directing the administration to investigate whether steel imports are jeopardizing U.S. national security.

Trump signed the memo while surrounded by executives from U.S. steelmakers.

A 1960s trade law gives the president authority to restrict imports if they are determined to be harmful to U.S. security interests.

"They're dumping vast amounts of steel in our country and they're really hurting not only our country, but our companies. Their targeting of American industry and other foreign strategies are designed to undermine American industry as a whole," said U.S. Steel CEO Mario Longhi.

American-made steel once accounted for roughly 20 percent of global production, but had slipped to less than five percent by 2015.

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