There’s little risk that the U.S. couldn’t procure sufficient steel and aluminum for defense even during a war. Defense consumes 3% of U.S.-made steel and about one-fifth of high-purity aluminum. U.S. steel mills last year operated at 72% of capacity while aluminum smelters ran at 39%. Both have ample slack to raise production for defense and commercial demands.
Trump has been framing his steel decision as a response to China. Per a report from his administration two months ago, China isn't even in the top 10 steel importers to the US (it's 11th); Canada is always #1.
https://www.trade.gov/steel/countries/pdfs/imports-us.pdf
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