US imposes duties on seven world steel producers

The International Trade Commission (ITC) today announced that the import of rolled steel from eight countries, several of them European, harms domestic producers for unfair competition practices, which opens the door to the imposition of tariffs.

The CCI, an independent agency advising the Government on trade matters, recalled that the Department of Commerce had already identified that rolled steel cut from Austria, Belgium, South Korea, France, Italy, Japan, Taiwan and The US below the fair market price, thereby committing unfair competition (“dumping”).

In addition, in the case of South Korean steel, it is subsidized.

This decision will allow the US government to impose tariffs and countervailing tariffs ranging from 3.62% to 148%, according to figures released by Commerce Secretary Wilbur Ross late last month.

The ICC opinion was unanimously endorsed by the president of that body, Rhonda Schmidtlein, Vice President David Johanson, and the three commissioners Irving Williamson, Meredith Broadbent and Scott Kieff.

ITC also decided that imports of this product from Austria, Belgium and Italy, which arrived in the US before November 2016 and were sold below their fair value, will not be subject to retroactive countervailing duties.

That was the date on which the US Department of Commerce announced its preliminary ruling in this case.

The investigation into unfair trade practices had been opened at the request of Chicago-based multinational ArcelorMittal USA; Nucor Corporation, of (Charlotte, NC) and SSAB Enterprises, of Lisle (Illinois).

In 2015, imports of rolled steel from Germany, Austria, Belgium, China, France, Italy, Japan and Taiwan totaled US $ 594.6 million, while Brazil, South Africa and Turkey totaled US $ 52.4 million, Figures from the Department of Commerce.


Please enter your comment!
Please enter your name here


Research points out that the street where the bridge fell in Florida must have been closed

 Miami, .- A federal investigation released Tuesday concluded that the stretch of Miami's Calle Ocho on which a pedestrian bridge was built that collapsed...

A collector buys the Sotheby’s auction house for 3,700 million

 The auction house Sotheby's announced on Monday that it has reached an agreement to be acquired by BidFair USA, owned by art collector Patrick...

The Hollywood Academy pays tribute to “The Labyrinth of the Faun”

Hollywood Academy today paid tribute to the film "Pan's Labyrinth," directed by Guillermo del Toro, an event which was attended, among others, the protagonist...

Florida achieves a record 116.5 million tourists in 2017 despite Irma

The state of Florida (USA) established in 2017 a new tourism record despite the damage caused by Hurricane Irma with the arrival of 116.5...

James, the number one star of the NBA, gives more power to the Western Conference

The forward LeBron James, who is already a new player of the Los Angeles Lakers, in the absence of signing the official contract, allows...