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Pipeline companies weary of new import taxes- The 19th China (Guangzhou ) Int’l tube & pipe Processing Equipment Exhibition
7/25/2017 steel tube expo-tube &pipe expo |
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The Street reported that pipeline companies and the US steel industry are facing off ahead of a report due from the Department of Commerce that could lead to limits on pipelines'' ability to import steel, a proposition pipeline companies say could spell doom for upcoming projects and the steel industry believes will bolster the country''s economy. The report follows a presidential memorandum signed January 24 ordering the department to sketch out a plan for maximizing the use of domestic materials in pipelines built in the United States and was due Sunday, July 23.
Trump has in the past promoted policies that favored both industries, speeding regulatory approval for major pipeline projects early in his presidency, and recently mulling import tariffs on steel that are expected to be announced in the coming weeks. Commerce Secretary Wilbur Ross is a former steel executive whose policy papers advising the Trump campaign cited unfair trade practices as a drag on American steel companies.
The pipeline decision pits the two industries in a zero-sum effort to win over the administration, while also putting into conflict the president''s twin goals of supporting infrastructure development and promoting domestic manufacturing.
Pipeline companies have said that an import restriction could increase prices. A study funded by industry groups said a requirement to source American steel could drive up pipe costs 25%, an amount that could add USD 76 million to the construction costs of most pipelines and up to USD 300 million for mega-projects like the USD 3.8 billion Dakota Access Pipeline.
- The 19th China (Guangzhou ) Int’l tube
& pipe Processing Equipment Exhibition
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