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ITC Revokes Duties on Corrosion-Resistant Steels

ITC Revokes Duties on Corrosion-Resistant Steels

Thursday, December 14, 2006
 
On Thursday (December 14), the U.S. International Trade Commission (ITC) decided to terminate protective duties on corrosion-resistant steel from four of six countries under review. PMA President William Gaskin called the verdict, “good news for American manufacturers that consume steel products.” The ITC voted four to two in favor of ending duties on corrosion-resistant steel from France, Canada, Australia and Japan, after determining that their revocation would not cause material injury to a revitalized U.S. steel industry. Duties on imports from Germany and Korea will remain in place until the next review in 2011. “The ITC decision appropriately recognizes that the steel industry in the United States is healthy and no longer needs government protection from competition on corrosion-resistant steel,” says Gaskin. “Steel is a major input for American manufacturing companies, accounting for up to 70 percent of their costs, especially for the manufacturers of component parts and assemblies essential to a huge number of end products. Steel consumers need a consistent, globally competitive marketplace for the raw material required to meet customer demand. While we would have preferred to see the duties revoked for all six countries, this decision is a step in the right direction to help American steel consumers compete in the global market.”

 

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