U.S. Trade Officials Initiate Wire Rod Investigation
04/19/2017 - The U.S. Department of Commerce has launched a dumping investigation into carbon and alloy wire rod from 10 countries.
In an announcement Tuesday, the Commerce Department said it will look at whether producers in Belarus, Italy, Korea, Russia, South Africa, Spain, Turkey, Ukraine, the United Arab Emirates and the United Kingdom have been undercutting their U.S. counterparts. The department also said it is opening related investigations into whether Italian and Turkish producers are unfairly benefiting from subsidies.
“The Department of Commerce will act swiftly to halt any possible unfair trade practices against U.S. companies while also assuring a full and fair assessment of the facts,” Commerce Secretary Wilbur Ross said in a statement.
“The Trump administration is unequivocally committed to the vigorous enforcement of America’s trade laws and will ensure U.S. businesses and workers are treated fairly,” he said.
The case arises on a complaint from four American producers: Gerdau, Nucor Corp., Keystone Consolidated Industries and Charter Steel. The four are alleging dumping margins of between 18.9% and 756.9%.
Producers in those countries exported more than 642,500 tons of wire rod into the U.S. during 2016, an increase of about 58% over 2014, according to the Commerce Department. The 2016 imports are valued at US$272.3 million, it said.
“The Department of Commerce will act swiftly to halt any possible unfair trade practices against U.S. companies while also assuring a full and fair assessment of the facts,” Commerce Secretary Wilbur Ross said in a statement.
“The Trump administration is unequivocally committed to the vigorous enforcement of America’s trade laws and will ensure U.S. businesses and workers are treated fairly,” he said.
The case arises on a complaint from four American producers: Gerdau, Nucor Corp., Keystone Consolidated Industries and Charter Steel. The four are alleging dumping margins of between 18.9% and 756.9%.
Producers in those countries exported more than 642,500 tons of wire rod into the U.S. during 2016, an increase of about 58% over 2014, according to the Commerce Department. The 2016 imports are valued at US$272.3 million, it said.
