Wash hands. Combine Italian dressing, cilantro, and chili powder in a resealable plastic bag. Add steaks; turn to coat. Marinate in refrigerator 1 hour.
Preheat grill to medium. Remove steaks from marinade; discard marinade. Grill, covered and turning once, 11 to 13 minutes for medium rare doneness (150°F).
Serving suggestion: season with salt as desired. Serve with warm tortillas and toppings such as chopped fresh cilantro, tomato, avocado, and sour cream. Refrigerate leftovers.
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