U.S. launches national security probe into power transformer components

The U.S. Commerce Department on Monday said it launched another "Section 232" national security investigation that could lead to new U.S. tariffs on imports of key electrical steel components of power transformers and related goods.

The investigation into the imports of transformer laminations and wound cores is partially aimed at protecting the last U.S. manufacturer of grain-oriented electrical steel, AK Steel, a unit of Cleveland-Cliffs, which has argued for tariff relief.

"An assured domestic supply of these products enables the United States to respond to large power disruptions affecting civilian populations, critical infrastructure, and U.S. defense industrial production capabilities," Commerce said in a statement.