Trade Cases
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SMA, AISI Endorse New Study Supporting Section 232
Written by Tim Triplett
March 25, 2021
U.S. steel producers, facing intensifying criticism from steel consumers over record-high steel prices, were quick to point to a new report this week from the Economic Policy Institute, which concludes that the Trump-era Section 232 tariffs have been an effective deterrent to unfair imports and should be continued by the Biden administration.
The Steel Manufacturers Association, which represents electric-arc furnace mills, said the EPI report—Why Global Steel Surpluses Warrant U.S. Section 232 Import Measures—clearly communicates the effectiveness of Section 232 steel tariffs. “The tariffs have resulted in increased investment and modernization of the domestic steel industry,” said SMA President Phil Bell. “The report validates how steel tariffs have created jobs and have ensured America’s national security is not jeopardized by structural issues of global excess steel capacity, subsidies and surges in unfairly traded imports.”
Bell added, “The EPI report shows, with an incredible amount of analytical rigor, how the tariffs have made the steel industry more innovative and have prevented layoffs and mill closures. The report also indicates that tariffs have had a minimal impact on prices for end-users of steel. Continuing the 232 steel tariffs is vital as the administration continues to carefully evaluate long-term solutions to address challenges associated with unfair trade and excess capacity. The highly informative report contains important and useful information that policymakers should incorporate into their analysis and decision-making.”
“This study makes it abundantly clear that the steel tariffs are working,” said Kevin Dempsey, president and CEO of the American Iron and Steel Institute, which represents integrated steelmakers. “We commend the economic analysis conducted by EPI, which confirms that, due largely to the Section 232 steel tariffs, the American steel industry has been able to invest nearly $16 billion to build, upgrade or expand steel facilities, while also enabling the industry to effectively restructure. While these investments have created 3,200 new jobs, the tariffs kept many more workers on the job as the industry was threatened by significant challenges from foreign government trade-distorting policies and practices that have created substantial steel overcapacity worldwide. We are pleased that the report also recognizes that those challenges still exist and that keeping the steel tariffs in place is critical until a permanent solution to the chronic problem of excess global steel production capacity is achieved. We urge that opinion leaders, policymakers and steel partners all across the U.S. take a look at this important new report and work to ensure that steel tariffs remain in place.”
Click here for further reporting on the subject elsewhere in this issue.
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Tim Triplett
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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