United States Now Collecting Tariffs on Hot-Rolled Steel Imports
18 March 2016
U.S. Customs and Border Protection agents are collecting tariffs on hot-rolled steel imports from seven countries after the U.S. Department of Commerce issued a finding Tuesday they were dumping steel here.
Customs agents are charging between 3.97 percent and 49.05 percent extra on imports from Australia, Brazil, Japan, Korea, the Netherlands, Turkey, and the United Kingdom, in anticipation of a final ruling on duties that will come this fall. Imports of hot-rolled steel from those countries– which is used to make cars, appliances and machinery – increased by 73 percent over the last few years, according to the International Trade Administration.
"The outcomes of these investigations are critical to domestic steel producers, the workforce, and surrounding communities that have been harmed by the ongoing surge of unfairly traded hot-rolled steel products," Steel Manufacturers Association President Philip K. Bell said. "Massive global overcapacity in steel is causing problems around the world, and the U.S. cannot continue to be the market of last resort for the world's overcapacity problem."
U.S. steelmakers can compete with anyone in the world, but need the federal government to ensure international trade laws are being enforced, Bell said.
ArcelorMittal, U.S. Steel and other domestic steelmakers filed the trade case in August, alleging illegal subsidies by foreign nations and steel dumped at less than it costs to make, or less than it sells for back in its home country.
"With more than 12,000 ongoing layoffs across the American steel and iron ore mining industry, plus tens-of-thousands of steelworkers jobs depending on this decision – it sends a strong signal that our government will enforce international trade laws to defend American manufacturing jobs," USW International President Leo W. Gerard said.
Gerard said China's overcapacity was causing the flood of cheap imports, which has snatched 23 percent of the market share so far this year.
"If we allow illegal trade practices to choke the American manufacturing sector and its workers, we foolishly undermine
our country’s ability to compete globally, and dangerously undermine our national security," he said.
Source : nwitimes.com