U.S. Commerce Secretary Ross is scheduled to present the “section 232” steel review results to the House Ways & Means committee on July 27. This is the first of several cases that will indicate how hawkish the administration wants to be in implementing trade policy. U.S. steel imports have started growing again recently, with the “steel deficit” reaching an annualized $26 billion in May – the highest since March 2015. That would suggest a broad-brush approach is needed. Yet, the risk of retaliation from other countries may make a focussed set of tariffs or quotas more sustainable...