Trump Launches Probe of Steel Exports to US from China, Others

President Trump launched a trade probe against China and other exporters of cheap steel into the U.S. market, raising the possibility of new tariffs and sending shares of some U.S. steel makers up over 8 percent.The decision to use a 1962 law allowing the U.S. government to limit imports that threaten its security readiness is intended to deliver on Trump's campaign promises, but observers note it risks setting off trade tensions with China. Trump signed an executive order for a 270-day review to determine whether steel imports were harming national security. If the Commerce Department does find harm, Trump will have up to 90 days to decide whether to impose broad import restrictions.Only about 2% of American steel imports come directly from China. But global steel makers and industry experts blame China for shipping its surplus steel to other countries, which drives down prices and prompts those countries to further process the steel into high-value products for export to the US. Trump trade officials have suggested they could bring trade actions against those countries as well.The steel industry in the U.S. employs about 140,000 people, or less than one-tenth of 1% of the American work force, according to the New York Times. China’s steel makers, by contrast, employed 4.7 million workers in 2014, the last official figure released, or 0.6% of China’s labor force then.