On Thursday, the International Trade Administration of the Department of Commerce extended the Steel Import Monitoring and Analysis (SIMA) system, a significant steel import monitoring program, for an additional five years. The program has now been in place for 12 years, since 2005, and provides timely and streamlined public access to steel import data. As Commerce explains, this program “provides all interested stakeholders with a more informed understanding of changing market conditions in a transparent manner.”
Under the program, importers of steel products are required to obtain a license from Commerce prior to their completion of the necessary customs entry summary documentation. The process to comply with this requirement is fast and automated, with Commerce estimating that it takes no longer than ten minutes to complete. These licenses function as a valuable monitoring tool. The SIMA program has been extended through March 21, 2022.