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SMA Applauds ITC Final Determination on OCTG Trade Case
08/25/2014 - The Steel Manufacturers Association (SMA) applauded the U.S. International Trade Commission’s (ITC) final determination to impose duties on OCTG imports from South Korea, Turkey, India, Taiwan, Ukraine and Vietnam.
“This is a resounding victory for a number of domestic steel producers, their employees, and surrounding communities. We are pleased that the ITC has upheld the Department of Commerce’s ruling and enforced our nation’s trade laws,” said SMA president Philip K. Bell.
“In recent years, energy sector growth has provided cause for great optimism. Steelmakers have responded by making massive investments in the U.S., providing thousands of high-paying manufacturing jobs,” Bell said.
“Our market has since been inundated with unfairly traded, dumped and subsidized material. This has prevented the U.S. economy from realizing the full benefit of energy resource development, and has harmed communities across the nation. Today’s ITC determination is a win not just for U.S. steel producers, but for the U.S. economy as a whole,” Bell said.
“Trade cases are a last resort due to the cost and uncertainty involved, as well as to the fact that injury has long since occurred before any remedy is seen. But they are also essential, as one of the few options available to ensure that our trading partners comply with the rules of international trade.”
“We commend the ITC for its ruling and for taking steps to promote free, fair trade,” Bell said.
SMA is the primary trade association for North American electric arc furnace steel producers, often referred to as mini-mills. SMA’s 33 member companies account for over seventy-five percent of total domestic steel production.
“In recent years, energy sector growth has provided cause for great optimism. Steelmakers have responded by making massive investments in the U.S., providing thousands of high-paying manufacturing jobs,” Bell said.
“Our market has since been inundated with unfairly traded, dumped and subsidized material. This has prevented the U.S. economy from realizing the full benefit of energy resource development, and has harmed communities across the nation. Today’s ITC determination is a win not just for U.S. steel producers, but for the U.S. economy as a whole,” Bell said.
“Trade cases are a last resort due to the cost and uncertainty involved, as well as to the fact that injury has long since occurred before any remedy is seen. But they are also essential, as one of the few options available to ensure that our trading partners comply with the rules of international trade.”
“We commend the ITC for its ruling and for taking steps to promote free, fair trade,” Bell said.
SMA is the primary trade association for North American electric arc furnace steel producers, often referred to as mini-mills. SMA’s 33 member companies account for over seventy-five percent of total domestic steel production.
