Washington - April 20, 2017

1. President Donald Trump seated in Oval Office

2. SOUNDBITE (English) Donald Trump, U.S. President

"We're going to fight for American workers and American made steel, and that's beginning immediately. For decades America has lost our jobs and our factories to unfair foreign trade. And one steel mill after another has been shut down, abandoned and closed and we're going to reverse that. Other countries have made a living taking advantage of the United States in so many ways, as you know, and I've been talking about that for a long time."

3. Trump seated in Oval Office

4. SOUNDBITE (English) Donald Trump, U.S. President

"Today I'm directing that the Department of Commerce to immediately prioritize the investigation that began yesterday and really long before that, because Wilbur and I have been working on that for a long time, into foreign steel arriving into our markets. And to submit a reports on these effects into the foreign steel products on the national security of the United States. It's not just a price thing, it's not just employment, it also has to do with the national security of our country."

5. Trump seated in Oval Office

6. SOUNDBITE (English) Donald Trump, U.S. President

"This investigation will look at how steel imports are impacting United States national security, taking into account foreign practices such as steel dumping, dumping is a tremendous problem in this country. They're dumping vast amounts of steel in our country and they're really hurting not only our country but our companies."

7. Trump seated in Oval Office

8. SOUNDBITE (English) Donald Trump, U.S. President

"From now on we're going to stand up for American jobs, workers, their security and for American steel companies, and companies generally. Today's action is the next vital step in making America strong and prosperous once again."

9. Applause

10. Trump signing memo

President Donald Trump is directing the administration to investigate whether steel imports are jeopardizing U.S. national security.

In the Oval Office on Thursday, Trump signed a memo ordering the investigation while surrounded by executives from U.S. steel-makers.

A 1960s trade law gives the president authority to restrict imports if they are determined to be harmful to U.S. security interests.

The law requires that the investigation be concluded within 270 days.

Commerce Secretary Wilbur Ross says the timeline will be expedited.

U.S. prominence in the steel industry has been slipping for decades.

According to the Belgium-based World Steel Association, American-made steel once accounted for roughly 20 percent of global production, but had slipped to less than 5 percent by 2015.

China made up less than 3 percent of U.S. steel imports.