President Donald Trump’s bid to stanch imports flowing into the U.S. steel market is fighting strong currents: domestic prices that are among the world’s highest and a buoyant dollar that pushes down the cost of imports. High labor costs have long pushed up the price of U.S. steel. Domestic producers increased prices further last year after new tariffs helped trim the share of imports in the U.S. steel market in 2016 for the first time in three years. Washington imposed those duties, up to 500%, on some steel products...

Source: Wall Street Journal April 20, 2017 19:41 UTC