US to slap duties on Brazilian flat steel imports

Resource from: Business News Americas Likes:163

Sep 06,2016

The US International Trade Commission (USITC) voted to slap duties on imports of cold-rolled flat steel products from Brazil and three other nations. In a release late Friday, the commission determined that the US steel industry is being materially harmed or threatened by imports of these products from Brazil, India, South Korea and the UK. On July 22, the US commerce department had found that products from Brazil, India, South Korea and Russia were being unfairly subsidized and sold in the US at below fair value, and that the products from the UK were also being dumped. "As a result of the USITC's affirmative determinations, [the Department of] Commerce will issue countervailing duty orders on imports of these products from Brazil, India, and Korea and antidumping duty orders on imports of these products from Brazil, India, Korea, and the United Kingdom," the commission said. All six USITC commissioners further found that imports of these products from Russia are negligible. "As a result of the commission's finding of negligibility, no orders will be issued on imports of these products from Russia," the release said. The investigation was launched in July on behalf of major steel producers in the US, among them ArcelorMittal USA, Nucor and AK Steel. The move follows the announcement on February 25 by President Barack Obama's administration of a series of executive actions aimed at protecting the domestic steel and iron ore industries from unfair foreign competition, including increased inspections at US ports and more customs personnel to help enforce tariffs already in place.

(Business News Americas)

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