The chief executives of 23 pipe and tube manufacturers are urging President Donald Trump to move forward quickly on steel import restrictions, according to a letter obtained exclusively by CNBC.
The Department of Commerce has undertaken an investigation into whether foreign-made steel imports threaten U.S. security. Trump signed a memorandum in late April asking Commerce Secretary Wilbur Ross to prioritize the probe, which could result in higher tariffs for Chinese and other foreign steel firms, to the benefit of the U.S. steel industry.
According to the letter the executives sent to Trump on Tuesday, "Time is running out for the industry and its workers and we urge you take immediate action under the provisions of U.S. law that allow you to intervene to ensure that domestic producers can meet the national security needs of our great country by imposing a combination of quotas and tariffs."
During the rebuilding of New Orleans after Hurricane Katrina, Trinity produced 10,000-15,000 tons of steel for infrastructure projects. Trinity Products makes the second-largest large diameter structural pipe, which is used in bridges, tunnels and other heavy construction projects
Executives enclosed a chart of carbon steel pipe and alloy steel pipe from July 2016 to 2017 showing a steady increase in foreign steel imports since the president announced the investigation.