The Senate passed a tax bill on Dec. 2 and is now in the process of reconciling it with the legislation passed by the House last month. Steel Manufacturers Association President Philip Bell said in a statement on Saturday, “It is our hope that after reconciliation the final legislation will result in significant economic growth […]
WTO members showed restraint in imposing trade restrictive measures last year, according to the organization’s most recent annual overview report on trade-related developments. Members implemented 108 new trade-restrictive measures during the reporting period July 2016 through June 2017, an average of 9 measures per month compared to 15 per month in the previous annual report. […]
The Global Forum on Steel Excess Capacity agreed on a framework Thursday for collectively solving the world’s steel overcapacity problem. The 33 members worked together to develop specific policy recommendations using six agreed-upon principles to formulate solutions for bringing steel capacity in line with demand and reducing trade distortions. Notable is a new sharing of […]
The U.S. Commerce Department has self-initiated an antidumping and countervailing investigation of imports of common alloy aluminum sheet from China. Normally, AD/CVD investigations are initiated by petitioners within the industry who allege dumping or subsidization of a product by one or more countries. Commerce may self-initiate an investigation whenever the Secretary determines a need exists […]
Detroit automakers met with Vice President Mike Pence and U.S. Trade Representative Robert Lighthizer on Monday to express concerns about the U.S. proposal on NAFTA automotive rules of origin. General Motors Co. CEO Mary Barra, Fiat Chrysler Automobiles CEO Sergio Marchionne and Ford Motor Co. Executive Vice President and President of Global Operations Joe Hinrichs […]
Imports of tool chests and cabinets from China will likely be subject to countervailing duties once the International Trade Commission makes its final injury determination. The U.S. Commerce Department issued its affirmative final determination on Nov. 22, calculating final subsidy rates ranging from 14.03 percent to 95.96 percent. As a result of this decision, Commerce will […]
The office of the U.S. Trade Representative has finally updated its summary of NAFTA objectives in response to pressure from the Senate Finance Committee to provide transparency regarding the negotiations. Ron Wyden (D-OR) put the confirmation of two deputy USTR nominees on hold until the updated objectives were made public. Wyden said the summaries are […]
Cold-drawn mechanical tubing imported from China, Germany, India, Italy, Korea and Switzerland was determined by Commerce to be sold below fair value. In its Nov. 16 preliminary antidumping determination, Commerce assigned dumping margins ranging between 5.10 percent and 186.89 percent. Commerce also found that “critical circumstances” exist with respect to Dalmine S.p.A. and Metalfer S.p.A. […]
“What if President Trump’s ultimate goal is to kill the World Trade Organization?” That was the question submitted by journalist Eduardo Porter in the New York Times last month. Porter’s question seemed even more to the point last week when President Trump accused the WTO of ignoring its own rules while the United States has […]
Commerce Secretary Wilbur Ross pushed back at critics of the Section 232 investigation this week, saying steel-consuming businesses don’t “deserve” dumped steel. Associations such as the American Institute for International Steel and U.S. Chamber of Commerce assert that Section 232 restrictions on steel could lead to economic disaster for the steel supply chain, ports and […]
A dispute over OCTG dumping duties assigned by the U.S. on imports of Korean OCTG drew mixed conclusions from a World Trade Organization dispute panel. The WTO sided with South Korea on claims that the U.S. violated rules in the Antidumping Agreement regarding the calculation of fair value of OCTG. The panel determined that Commerce […]
Canada and Mexico will “come to their senses and make a sensible deal” for NAFTA, said Commerce Secretary Wilbur Ross at The Wall Street Journal CEO Council on Thursday. Ross defended U.S. NAFTA negotiating tactics, saying Mexico and Canada have more to lose than the United States if the NAFTA agreement collapses. He called a […]
The Commerce Department announced a preliminary finding of dumping in the investigation of metal tool chests and cabinets imported from China and Vietnam. The investigation was initiated by a petition from Waterloo Industries, in Sedalia, Missouri. The investigation covers all metal tool chests and cabinets, including top chests, intermediate chests, tool cabinets and side cabinets, […]
Republican legislators are too worried about passing tax legislation to stand up to Trump on NAFTA, reports Inside U.S. Trade. Although legislators are receiving heavy pressure from the business community to stop the president from withdrawing from NAFTA, behind closed doors Republicans say they won’t publicly intervene due to possible negative consequences from the White […]
The termination of U.S. Steel Corp.’s Section 337 transshipment claim was upheld by the U.S. International Trade Commission on Nov. 1. U.S. Steel alleged in its false designation of origin claim that Chinese steel companies misrepresented the country of origin in paperwork in order to evade U.S. antidumping and countervailing duties. The seven respondents (Baosteel […]
The fifth round of NAFTA negotiations will be Nov. 17-21 in Mexico City, but contentious U.S. proposals are making a compromise between the three trading partners problematic. The U.S. has proposed a sunset clause, rules of origin tipped in favor of the U.S., restrictions on government procurement and elimination of dispute settlement mechanisms, none of […]
Nearly as disturbing as the steel imports themselves are repeated delays in promised trade relief, say steel industry executives, who find themselves doing business in a state of “perpetual uncertainty.” While there is no official confirmation from the Department of Commerce, SMU’s sources have confirmed reports that the Commerce Department has again delayed a preliminary […]
Market economy status for China is out of the question, according to a 205-page memo from the Commerce Department. The detailed memorandum, published on Oct. 26, was released just days before President Trump is to meet with Chinese President Xi Jinping and in close timing with a preliminary AD/CVD determination against China regarding imports of […]
If the Trump administration restricts steel imports under Section 232, it will open the United States to a host of retaliatory measures by other nations and will do little to address the root cause of the problem, which is China, argues the American Institute for International Steel (AIIS), a trade group representing foreign steel producers. […]
Trucking associations in the U.S., Canada, and Mexico issued a joint statement on Monday supporting an updated NAFTA agreement. The North American truck-transported trade supports tens of thousands of jobs and generates billions in revenue annually, said the statement from the American Trucking Association (ATA), Cámara Nacional del Autotraporte de Carga (CANACAR), and the Canadian […]
The following is an editorial from The Detroit News published on Saturday, Oct. 21, 2017. You can go to the original article by clicking here. One of the things President Donald Trump likes to boast about — and has a right to — is the performance of the economy since he took office in January. […]
Two popular appliance manufacturers, Samsung and LG, are facing potential quotas and tariffs on imports of their products to the United States. Earlier this month, following a global safeguard petition by Whirlpool, the U.S. International Trade Commission voted unanimously in a Section 201 investigation that a surge of large residential washer (LRW) imports was injuring […]
The U.S. government has advised the steel industry that it will delay its preliminary determination on the circumvention trade suit against Vietnam until Oct. 30. The suit alleges Vietnam was assisting China to circumvent the U.S. antidumping and countervailing duties assigned to China in 2015/2016. Domestic steelmakers say the U.S. government should no longer recognize […]
The American Automotive Policy Council is challenging data that Commerce Secretary Wilbur Ross cited in his bid to raise the NAFTA auto rules of origin. In a September report, Ross used data from 1995 to 2011 in an effort to “debunk the claim that U.S. content in the form of parts is so high that […]
Labor rights need to be at the forefront of NAFTA talks, assert leaders of the United Steelworkers and the United Autoworkers. In a joint statement on Oct. 12, United Steelworkers International President Leo W. Gerard and USW Canadian National Director Ken Neumann challenged negotiators to craft a NAFTA agreement that “will raise standards, ensure they […]
It’s on the table: the U.S. proposal for rules of origin for NAFTA automobiles. On Friday, the Trump administration made its demand for 50 percent U.S. content in NAFTA-produced cars and trucks and an increase of North American content from 65.2 percent to 85 percent. The increase for U.S. content would be made within the […]
The fourth round of NAFTA talks is under way in Washington with some negotiators fearing the demise of the 20-year-old agreement. “There are several poison pill proposals still on the table that could doom the entire deal,” said Tom Donohue, CEO of the U.S. Chamber of Commerce in a speech in Mexico City on Tuesday. […]
The Global Forum on excess steel capacity is getting closer to releasing its report. The Forum was convened after the G20 meetings in Paris and has outlined six key principles in a draft report that is circulating among 33 participating countries. Comments are due by Oct. 10 with a possible final draft delivered to G20 ministers on […]
The following article was written by trade attorney Lewis E. Leibowitz regarding the historical precedent for exclusion of products from any Section 232 decision that impacts imports of foreign steel. Leibowitz is well known to Steel Market Update, having spoken on trade issues at a number of SMU Steel Summit Conferences, and he has provided […]
Increased imports of foreign-made washing machines into the U.S. are causing serious injury to the domestic industry, said the U.S. International Trade Commission in an Oct. 5 determination. Under Section 202 of the Trade Act of 1974, the commission voted 4-0 in the global safeguard investigation that was prompted by a petition from Whirlpool Corp. […]