A decision by President Trump on action following the section 232 “national security” review of U.S. steel imports will not be made until after tax reform is concluded. The review faces three challenges. First is the potential for increased costs for U.S. manufacturers that use steel. Second is actually showing national security issues for specific products. Third is determining who to target. Trade talks are already underway with Mexico, Canada, South Korea, Japan and India which together account for 37% of imports. Steel tariffs would complicate those discussions. Geopolitical tensions...