Commerce Department Rejects Tariff Exclusions for U.S. Slab Importers
04/25/2019 - The U.S. Commerce Department has denied a tariff exclusion request from Allegheny Technologies Inc.’s (ATI) stainless steel joint venture with Tsingshan Group, the company said.
The joint venture, A&T Stainless, had sought exclusions for stainless slabs it is importing from Indonesia and is rolling and finishing at ATI facilities in the U.S.
ATI president and chief executive Bob Wetherbee said the company is working with its partner to determine next steps.
“While we are disappointed that the U.S. Department of Commerce denied the joint venture’s Section 232 tariff exclusion request, it does not change our strategy of returning ATI’s Flat Roll Products segment to sustained profitability,” said Wetherbee.
“Although we believe the unique status of the North American stainless steel industry warranted approval of our exclusion, we are committed to meeting our customers’ needs and delivering value to our shareholders.”
The announcement comes as the Commerce Department denied exclusion requests from slab importers, including NLMK and JSW Steel USA, Fastmarkets AMM reported.