RI, China prevail in U.S steel case<\/p>\n
WASHINGTON (Reuters): Dealing a blow to American steel makers
\nand workers, the U.S. International Trade Commission (ITC)
\nblocked the government on Friday from imposing punitive duties on
\nsteel imports from China, Indonesia, Slovakia and Taiwan.<\/p>\n
The federal commission ruled 5-1 that cold-rolled steel
\nimports from the four countries were not a threat to the U.S.
\nsteel industry.<\/p>\n
The ruling means the United States will not impose duties
\nranging from 14.97 percent to 163.89 percent on cold-rolled steel
\nshipments, used in products ranging from automobiles to household
\nappliances.<\/p>\n
The decision outraged U.S. steel producers, including
\nBethlehem Steel Corp., U.S. Steel Group, National Steel Corp. and
\nSteel Dynamics Inc. as well as United Steelworkers of America.<\/p>\n
They have accused foreign producers of dumping steel in the
\nUnited States at below fair market value, and have increased
\npressure on the White House to crack down on cheap imports ahead
\nof the November presidential election. Vice President Al Gore,
\nthe presumptive Democratic presidential nominee, is counting on
\nlabor's support at the polls.<\/p>\n
\"Today's ruling by the ITC tells American steelworkers, their
\nfamilies and our steel industry that the Commission cannot be
\ncounted on to enforce U.S. trade laws against dumping, despite
\noverwhelming evidence of illegal cold-rolled imports,\" said
\nUnited Steelworkers President George Becker.<\/p>\n
He called the ruling an \"injustice\" and warned that it would
\ncost more than 21,000 U.S. steel workers their jobs.<\/p>\n
But Friday's decision came as little surprise. Earlier this
\nyear, the commission tossed out duties against cold-rolled steel
\nimports from Argentina, Brazil, Japan, Russia, South Africa,
\nThailand, Turkey and Venezuela.<\/p>\n
U.S. trade officials have grown increasingly wary of industry
\ncomplaints as steel imports eased. Washington is also worried
\nabout a backlash from major trading partners, who have accused
\nthe United States of flouting World Trade Organization rules.<\/p>\n
Earlier this month, foreign steel makers lashed out at their
\nAmerican rivals, releasing a study alleging that protectionist
\nU.S. trade policies have cost consumers up to $150 billion over
\nthe last 30 years.<\/p>\n
Friday's ruling was a major victory for steel makers in
\nSlovakia, which would have faced 109.21 percent duties.
\nSlovakia's second-largest employer, VSZ, had been threatened with
\nduties of 163.89 percent.<\/p>\n
Likewise, the ruling was a victory for Indonesia's PT Krakatau
\nSteel, which would have faced duties of 83.79 percent. Other
\nproducers in Indonesia were targeted at 43.90 percent.<\/p>\n
Cold-rolled steel makers in China had also faced punitive
\nduties, averaging 23.72 percent, while producers in Taiwan,
\nincluding China Steel Corp., faced 14.97 percent margins.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/ri-china-prevail-in-us-steel-case-1447893297",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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