Live on Bloomberg TV

00:00WE ARE HERE WITH JOHN PERRY FERRIOLA. EVERYONE WANTS TO KNOW ABOUT 232. WHAT ARE YOU EXPECTING FROM THE TRUMP ADMINISTRATION IN TERMS OF DETAILS FROM THIS? JOHN: WE DON ' T KNOW WHAT THE DETAILS ARE GOING TO BE. I HAD AN OPPORTUNITY TO MEET WITH THE PRESIDENT AND SECRETARY ROSS. I CAN TELL YOU I ' M ENCOURAGED BY THEIR DETERMINATION TO MAKE SURE WE HAVE A SUSTAINABLE, STRONG STEEL INDUSTRY TO PROVIDE A SUSTAINABLE AND STRONG NATIONAL DEFENSE FOR OUR COUNTRY, WHICH IS A MAJOR ROLE OF GOVERNMENT. JOE: YOU DO THINK THAT THEY WILL FIND THERE IS A THREAT TO NATIONAL SECURITY ON STEEL IMPORTS? JOHN: IT ' S VIRTUALLY IMPOSSIBLE TO ARGUE THAT YOU CAN HAVE A SUSTAINABLE NATIONAL DEFENSE WITHOUT HAVING A STRONG STEEL INDUSTRY TO SUPPORT THE NATIONAL DEFENSE. OBVIOUSLY YOU NEED STEEL FOR FIGHTING VEHICLES, ARMORED PLATES COME A SUBMARINES. YOU NEED TO HAVE A STRONG INFRASTRUCTURE SYSTEM IN THE COUNTRY WITH BRIDGES AND ROADWAYS AND THE ELECTRICAL POWER GRID COULD THEY ARE. THEY ARE ALL CENTRAL FOR NATIONAL DEFENSE. JOE: THE BIG DISCUSSION IS WHETHER THEY MIGHT LEVY TARIFFS. WHAT DO YOU THINK WILL COME OF IT? JOHN: I HESITATE TO GUESS. WHAT I WILL SHARE WITH YOU IS WHAT WE HAVE BEEN ASKED OUR OPINION. I WILL SHARE WITH YOU WHAT WE HAVE OFFERED. WE RECOMMENDED THAT THEY START WITH THE END IN MIND. AT THE END OF THE DAY, THIS IS BEING DONE TO PROVIDE A SUSTAINABLE STEEL INDUSTRY FOR SUSTAINABLE NATIONAL DEFENSE. TO A COMPOST THAT, YOU HAVE TO HAVE -- ACCOMPLISH THAT COMING HAVE TO HAVE A LIMIT ON THE MARKET SHARE CAPTURED. THE HAS TO BE ENOUGH MARKET SHARE FOR DOMESTIC MOST OPERATE AT A UTILIZATION RATE SOMEWHERE AROUND 85% TO 87% COME WHICH ALLOWS US TO COLLECT THE RETURN ON CAPITAL THAT WE NEED TO HAVE SUSTAINED BUILDING. TO A A COUPLE ' S THAT GOAL, YOU NEED TO HAVE IMPORTS LIMITED TO ABOUT 10% TO 50% OF THE MARKET SHARE HERE IN THE UNITED STATES. WHATEVER SPECIFICS THEY COME OUT WITH, I HAVE ENCOURAGED THEM TO MAKE SURE AND TO GO BACK AND VERIFY THAT WHATEVER THEY HAVE COME UP WITH IS ACCOMPLISHING THAT GOAL.

No schedule data available.

Nucor CEO Encouraged by Trump's Steel Stance

John Ferriola, Nucor Corp.'s chairman and chief executive officer, discusses the outlook for the steel industry with Bloomberg's Joe Deaux on "Bloomberg Markets." (Source: Bloomberg)

More From Bloomberg Markets
All episodes and clips