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.