Following up on the imposition of increased import tariffs on foreign steel and aluminium last year, the United States is now opening up an investigation into charges of dumping steel and whether the exporters of fabricated structural steel from Canada, China and Mexico were being offered to American buyers at fair values or below them.
Reports in the media suggested that there has been a strong demand from the Trump administration to let go of the imposing US national security tariffs on steel and aluminum imports by US lawmakers, car companies and Canada and Mexico, while considering the revision and rehashing of the North American Free Trade Agreement last year.
There are a number of industries including major building projects, including commercial, office and residential buildings, arenas, convention centers, parking decks and ports in which fabricated structural steel which are under investigation, is put to use.
A petition filed earlier this month by a US steel trade group reportedly forms the basis of probe into the new anti-dumping and countervailing duty, said the US Commerce Department on Tuesday.
According to the reports, the probe by the department would investigate whether it is possible to impose import tariffs of 30 per cent on fabricated steel supplied by Canada and Mexico and imposing a 222 per cent tariff on steel exported from China in case the investigations found that the current prices were below the fair value prices in America.
The outcome of the probe is expected be completed by the end of September this year, said the Commerce Department.
An estimated value of US$658.3 million, US$841.7 million, and US$406.6 million was the value of the fabricated structural steel from Canada, China, and Mexico into the United States in 2017, respectively.
The International Trade Commission is slated to provide a preliminary determination on the issue by March 21.
According to allegations made by the US Commerce Department, 44 subsidy programs for Canadian fabricated structural steel were in place in the country which included tax programs, grant programs, loan programs, export insurance programs, and equity programs.
The agency however said that China has implemented 26 subsidy programs for the steel makers and 19 subsidy programs by Mexico for the industry segment.
It would strongly oppose a petition urging anti-dumping duty on certain steel imports from Canada, said a Canadian steel industry group earlier this month.
The allegations by the US group “that these products from Canada are unfairly traded and cause injury to US producers of fabricated steel products are baseless”, said the Canadian Institute of Steel Construction.
(Source:www.ejinsight.com)
Reports in the media suggested that there has been a strong demand from the Trump administration to let go of the imposing US national security tariffs on steel and aluminum imports by US lawmakers, car companies and Canada and Mexico, while considering the revision and rehashing of the North American Free Trade Agreement last year.
There are a number of industries including major building projects, including commercial, office and residential buildings, arenas, convention centers, parking decks and ports in which fabricated structural steel which are under investigation, is put to use.
A petition filed earlier this month by a US steel trade group reportedly forms the basis of probe into the new anti-dumping and countervailing duty, said the US Commerce Department on Tuesday.
According to the reports, the probe by the department would investigate whether it is possible to impose import tariffs of 30 per cent on fabricated steel supplied by Canada and Mexico and imposing a 222 per cent tariff on steel exported from China in case the investigations found that the current prices were below the fair value prices in America.
The outcome of the probe is expected be completed by the end of September this year, said the Commerce Department.
An estimated value of US$658.3 million, US$841.7 million, and US$406.6 million was the value of the fabricated structural steel from Canada, China, and Mexico into the United States in 2017, respectively.
The International Trade Commission is slated to provide a preliminary determination on the issue by March 21.
According to allegations made by the US Commerce Department, 44 subsidy programs for Canadian fabricated structural steel were in place in the country which included tax programs, grant programs, loan programs, export insurance programs, and equity programs.
The agency however said that China has implemented 26 subsidy programs for the steel makers and 19 subsidy programs by Mexico for the industry segment.
It would strongly oppose a petition urging anti-dumping duty on certain steel imports from Canada, said a Canadian steel industry group earlier this month.
The allegations by the US group “that these products from Canada are unfairly traded and cause injury to US producers of fabricated steel products are baseless”, said the Canadian Institute of Steel Construction.
(Source:www.ejinsight.com)
