Trade Cases
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SMU Market Trends: Most Feel Auto Imports Not a Real Threat
Written by Tim Triplett
July 9, 2018
Are imports of motor vehicles and auto parts a threat to the security of the United States? More than three out of four respondents to last week’s Steel Market Update market trends questionnaire say no.
Citing the same argument that it used to justify the tariffs on steel and aluminum under Section 232 of the Trade Expansion Act of 1962, the Trump administration contends imports of cars and trucks are a danger to a healthy domestic automotive industry. “Core industries such as automobiles and automotive parts are critical to our strength as a nation,” said the White House.
In late May, President Trump instructed Commerce Secretary Wilbur Ross to investigate whether imports of foreign-made vehicles and parts pose a threat to U.S. automakers, and thus to national security. The administration reportedly is considering tariffs of 25 percent, up from the current 2.5 percent. Public hearings on the proposal, which faces strong opposition from both inside and outside the auto sector, are set for July 19-20 in Washington.
Only 24 percent of the steel industry executives polled by SMU support the administration’s plan for automotive tariffs. Following is a sampling of respondents’ comments:
• “Stupefyingly ridiculous!”
• “None of this is justified, but it’s still happening.”
• “The current administration is determined to rebalance trade deficits and will do whatever they feel they need to do in order to achieve this—at the expense of all common sense and with disregard for the negative long-term high-cost effects on the U.S. economy.”
• “Ford, GM and Fiat also import parts from other countries for their assembly plants. The Big Three could end up as collateral damage.”
• “Yes, it’s justified on cars made outside of the United States. Especially luxury cars. Tax them more; they are bought by the wealthy anyway.”
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Tim Triplett
Read more from Tim TriplettLatest in Trade Cases
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Leibowitz: The consequences of a new barrage of trade cases on coated steel
Domestic steel producers and the United Steelworkers (USW) union filed a barrage of trade cases last week. This is hardly news. Ever since the Commerce Department ruled that Vietnam is still treated as a nonmarket economy (NME) for antidumping purposes, many in the business expected new cases on the product that Vietnam excels at—“corrosion-resistant steel.” Nor is it a surprise that these cases roped in nine countries in addition to Vietnam: Australia, Brazil, Canada, Mexico, the Netherlands, South Africa, Taiwan, Turkey, and the United Arab Emirates. All these countries rank in the top ten exporters of corrosion-resistant steel to the United States. These petitions are a broadside against coated flat-rolled steel imports.
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Coated trade case alleges hefty dumping margins
Domestic mills have alleged substantial dumping margins in the trade case targeting imports of corrosion-resistant steel.
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US mills file sprawling trade case against coated imports from 10 nations
US mills have filed or soon will file a sprawling trade petition against imports of coated flat-rolled steel from 10 countries. The petition seeks anti-dumping margins against Canada, Mexico, Brazil, the Netherlands, Turkey, the United Arab Emirates, Vietnam, Taiwan, Australia, and South Africa. It also seeks countervailing duty margins against Canada, Mexico, Brazil, and Vietnam. That’s according documents dated Sept. 5 and addressed to Commerce Secretary Gina Raimondo and International Trade Commission (ITC) Secretary Lisa Barton.
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Steel Summit 2024: Trade issues abound ahead of election
Trade is always front and center in an election year. And 2024 is no different. There is no shortage of issues, with questions like the sale of U.S. Steel to Japan’s Nippon Steel, potential cracks in the USMCA, and Chinese overcapacity dominating the headlines. But how do you distinguish between issues that might just last until November, and what are the crucial questions that could affect your business for years to come?
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US senators urge reduction to S. Korean OCTG quota
https://www.brown.senate.gov/newsroom/press/release/sherrod-brown-casey-fetterman-biden-administration-level-playing-field-american-octg-industry