Government/Policy
August 21, 2022
Written by Lewis Leibowitz
The House of Representatives on Friday approved the Inflation Reduction Act (IRA) on a party-line vote. This legislation, with only Democratic support, passed the Senate 51-50 last weekend. The bill now goes to President Joe Biden, who will sign it into law.
This is by any measure a major piece of legislation. On the surface, it does not deal with international trade issues.
The US Department of Commerce recently made adjustments to the anti-dumping duties (AD) on certain steel pipe and tube imports after annual administrative reviews, according to notices in the Federal Register.
After an annual administrative review, the US Department of Commerce is adjusting the countervailing duties (CVDs) on imports of cut-to-length carbon-quality steel plate from South Korea.
The Steel Manufacturers Association (SMA) and the American Iron and Steel Institute (AISI) have weighed in on yesterday’s midterm elections that saw Democrats gain control of both the Senate and the House of Representatives. “Last night's elections delivered historic gains for Democrats in Congress,” SMA EVP Brandon Farris said in a statement to SMU on Wednesday. “Thankfully, a strong American steel industry transcends party lines." He said SMA's mission remains clear. It includes defending “the policies that have helped drive historic investment, strengthen American manufacturing, secure reliable and affordable energy, and ensure domestic steelmakers can compete on a level playing field.”
The US Department of Commerce has determined sizable dumping rates against Austria, Taiwan, and the United Arab Emirates in the trade case investigating imports of oil country tubular goods (OCTG). Recall the dumping investigations and a companion subsidy investigation were launched in April at the request of the US OCTG Manufacturers Association (USOMA), U.S. Steel, and the United Steelworkers.
It’s the scariest time of year in Washington, D.C. … election season. The city is a veritable haunted house of prognostication and speculation as everyone tries to discern which way the howling wind will blow. We’ll let the fortune tellers and prediction markets guess the outcomes of the midterms. What we do know is this: the steel industry has experienced its share of tricks and treats over the past few months. Below are a few notable steel tricks and treats this Halloween season.