Imported steel hurts industry

Imported steel hurts industry

WASHINGTON (AP): Imported steel used to support buildings is hurting the American industry, the U.S. International Trade Commission ruled unanimously Tuesday.

The panel decided that concrete steel reinforcing bars imported from Indonesia, Poland and Ukraine are being sold at artificially low prices and hurting American companies. That practice is often referred to as dumping.

The commission is expected to release an explanation of its decision later this year.

The Commerce Department must now decide whether the actions by the three foreign countries warrant imposing tariffs on the steel they export to the United States.

Eleven American companies filed the complaint against eight foreign countries. The commission decided to split the complaint. The six-member commission is expected to rule in July if imports from Belarus, China, South Korea, Moldova and Latvia hurt the American steel industry.

Alan Price, a lawyer representing the 11 American companies, praised the commission's decision

"A dumping order against reinforcing bar imports is just a small part of the import relief needed by the domestic steel industry," he said.

A lawyer representing the foreign steel manufacturers did not immediately return a phone call seeking comment.

During arguments before the commission last month, lawyers for the foreign firms said that American trade law deprived their clients of the chance to compete in a fair market.

The complaint was filed by 11 American firms, employing 3,154 people, that have mills and/or customers in 30 states. Included are all the states east of the Mississippi River as well as Arkansas, Louisiana, Missouri and Texas.