FIRST AIRED: July 14, 2017

Nice work! Enjoy the show!

×

You’re busy. We get it.

Stay on top of the news with our Editor’s Picks newsletter.

US Edition
Intl. Edition
Unsubscribe at any time. One click, it’s gone.

Thanks for signing up!

×

Transcript

00:00:00
>>
MUSIC]
00:00:02
It's a battle cry Donald Trump road to victory in 2016. The U.S. should hit back at countries like China with hefty tariffs on cheap imported steel.>> We wanna build with American workers and with American iron, aluminum, and steel.>> The aim, protect American jobs, after the loss of so many steel mills to markets overseas.
00:00:24
But Trump's promises on steel are crashing into a cold reality. The American Business Lobby. U.S. manufactures, who depend on low-cost foreign steel, such as auto makers are pushing the White House to back off. Reuters' correspondent, Ginger Gibson.>> Business are pushing back because they think terrorists will increase their costs and therefore make them cut back production, cutting jobs, and make the price of products that they produce more expensive for consumers.
00:00:52
We see everyone from manufactures, oil refiners, auto makers, to retailers who use steel in all of their shelves.>> The commerce department is deep into a review that could give Trump the freedom to slap tariffs on imported steel on national security grounds. But the lobbying groups working behind the scenes are spending big dollars hoping he won't.
00:01:14
>> They are reaching out to members of the White House that they believe might be able to help them convince Trump to back off of these tariffs. That includes Gary Cone. They have also made some outreach to Treasury Secretary Steve Mnuchin. There's a big risk for these lobbyists going out on this issue and that's why it's been done so quietly.
00:01:31
This was a big issue for Trump. He talked about it repeatedly on the campaign trail. And to come out publically and say, one of his signature campaign promises is a bad idea with the backlash.>> The commerce report expected as early as this week, but it could be delayed due to all the internal debate.