US Steel Industry Trade Dispute

Posted: April 24, 2014 in Industry, Steel
Tags: , , , ,

Have you heard about this? AP published April 21, 2014 from Washington:

“President Obama’s administration has sided with American steel producers in an international trade dispute, ruling imported steel reinforcing bar from Mexico and Turkey unfairly undercuts U.S. prices.

Monday’s preliminary decision by the U.S. Department of Commerce means companies in Mexico and Turkey will be subject to immediate duties.

A final determination won’t be made until summer. But within a week the U.S. government will stop distribution at the nation’s borders until a cash bond or deposit is posted.

Steel reinforcing bar is known as steel rebar and is used to reinforce concrete. Steel producers in Mexico and Turkey have denied they’re violating trade laws.

The investigation by Commerce’s International Trade Administration was launched last fall at the request of U.S. steel producers. Companies from Ohio, Oregon, North Carolina, Florida and Texas filed complaints.” – foxnews.com

Notice this news, too from January 2014 regarding US challenging China’s non-compliance in WTO steel dispute:

U.S. Trade Representative Michael Froman announced that the United States is requesting that China enter into consultations regarding China’s claim that it has brought its duties on U.S. exports of grain oriented flat-rolled electrical steel (GOES) into compliance with WTO rules.

GOES is a high-tech, high-value magnetic specialty steel that is used primarily by the power generating industry in transformers, rectifiers, reactors, and large electric machines.” –  ustr.gov

So where does this leave Americans interested or connected in some way to the steel industry?  Will you be affected?  Have you been affected by the US steel industry trade dispute?

(copyright content property of rightful owner(s).  The writers of this blog do not claim content or property rights.  Content credit provided.

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