U.S. Commerce Department Sets Duty on Cold Rolled Imports
03/02/2016 - The U.S. Commerce Department will impose preliminary anti-dumping duties on cold rolled flat steel from seven countries, including China, the department announced on 1 March.
The department set the preliminary duty for Chinese producers at nearly 266 percent. Duties on the other countries – Brazil, India, Japan, Korea, Russia and the United Kingdom – generally range from 4.53 percent to 38.93 percent.
Final determinations are due in May and July.
The preliminary order arises from complaint filed in August by five domestic producers -- AK Steel Corp., ArcelorMittal USA, Nucor Corp., Steel Dynamics Inc. and United States Steel Corporation. The United Steelworkers union also supported the complaint.
In a statement, USW International President Leo W. Gerard said the preliminary duties are welcomed news.
“Steel has literally been the backbone of our great nation, from the railroads that span America to the iron girders that support our office buildings, schools and bridges. (The) ruling is just one step in the fight to restore fair trade conditions for American-made cold rolled steel products,” he said.
He added that steel and other industrial goods are “under attack” from foreign dumping and subsidies.
“One of the main causes of this crisis is global overcapacity largely fueled by China. The solution is not more talk, but strong rules and disciplines that are aggressively implemented and enforced by the U.S. government.”
Although the new protections likely will support higher steel prices, trade measures can’t be expected to save ailing steelmakers, The Wall Street Journal reported.
“There’ll be a short-term benefit,” John Packard of Steel Market Update told the newspaper.
”However, in the long run, the U.S. mills are always going to want more tariffs, and it’s questionable how much more [protection] they can get."
The Journal pointed out that the U.S. already has anti-dumping duties in place on 19 categories of Chinese-made steel.
Final determinations are due in May and July.
The preliminary order arises from complaint filed in August by five domestic producers -- AK Steel Corp., ArcelorMittal USA, Nucor Corp., Steel Dynamics Inc. and United States Steel Corporation. The United Steelworkers union also supported the complaint.
In a statement, USW International President Leo W. Gerard said the preliminary duties are welcomed news.
“Steel has literally been the backbone of our great nation, from the railroads that span America to the iron girders that support our office buildings, schools and bridges. (The) ruling is just one step in the fight to restore fair trade conditions for American-made cold rolled steel products,” he said.
He added that steel and other industrial goods are “under attack” from foreign dumping and subsidies.
“One of the main causes of this crisis is global overcapacity largely fueled by China. The solution is not more talk, but strong rules and disciplines that are aggressively implemented and enforced by the U.S. government.”
Although the new protections likely will support higher steel prices, trade measures can’t be expected to save ailing steelmakers, The Wall Street Journal reported.
“There’ll be a short-term benefit,” John Packard of Steel Market Update told the newspaper.
”However, in the long run, the U.S. mills are always going to want more tariffs, and it’s questionable how much more [protection] they can get."
The Journal pointed out that the U.S. already has anti-dumping duties in place on 19 categories of Chinese-made steel.
