PMA expresses disappoinment with U.S. ITC's vote.
Press Release Summary:
William E. Gaskin, president of PMA expressed disappointment at U.S. International Trade Commission's decision to continue anti-dumping and countervailing duties on hot-rolled steel. ITC voted to continue AD/CVD duties on China, India, Indonesia, Taiwan, Thailand, and Ukraine, and to terminate duties for Argentina, Kazakhstan, Romania, and South Africa. This decision provides another blow to American metalformers and other manufacturers struggling to compete in global marketplace.
Original Press Release:
PMA: U.S. International Trade Commission Vote to Continue Duties on Most Hot-Rolled Steel Imports Another Blow for U.S. Manufacturing
WASHINGTON, D.C.-October 10, 2007-Precision Metalforming Association (PMA) President William E. Gaskin expressed disappointment at the U.S. International Trade Commission's (ITC) decision to continue the anti-dumping and countervailing (AD/CVD) duties on hot-rolled steel from six of the ten countries under review, including the most significant hot-rolled steel exporters, calling the verdict "a tough blow for American steel consumers."
The ITC voted to continue AD/CVD duties on China, India, Indonesia, Taiwan, Thailand and Ukraine, and to terminate the duties for Argentina, Kazakhstan, Romania and South Africa. The duties on hot-rolled imports from The Netherlands were rescinded earlier due to the U.S. Department of Commerce decision to comply with a World Trade Organization ruling to end the use of "zeroing" in certain trade cases. The use of zeroing inflates margins in dumping calculations. The remaining duties will be left in place until the next ITC review in 2012.
"It is unfortunate that today's vote by the ITC missed the fact that American steel consumers need access to steel products at globally competitive prices, and that the U.S. steel industry is world-class, healthy, highly profitable and no longer in need of government protection from international competition on hot-rolled steel products," said Gaskin.
"Steel products, especially hot-rolled, are a major input for American manufacturing companies, accounting for up to 70 percent of their costs. Today's decision ignores the reality of the marketplace: to remain competitive and meet customer demand, industrial consumers need to count on consistent supplies of globally priced raw materials. This decision provides another blow to American metalformers and other manufacturers already struggling to successfully compete in the global marketplace."
Gaskin continued, "Today's vote underlines the importance for Congress to pass the American Manufacturing Competitiveness Act (H.R. 1127), introduced by Reps. Joe Knollenberg (R-MI) and Ron Kind (D-WI). The legislation would provide U.S. industrial users with full 'interested party' standing throughout the AD/CVD process and require that the ITC consider the impact its decisions will have on domestic industrial consumers of the products in question. This bill will help guard against the ITC making more decisions like this one that result in greater harm than benefit to American manufacturers."
The Precision Metalforming Association (PMA) is the full-service trade association representing the $91-billion metalforming industry of North America - the industry that creates precision metal products using stamping, fabricating and other value-added processes. Its nearly 1,200 member companies include metal stampers, hot-rolled fabricators, spinners, slide formers and roll formers as well as suppliers of equipment, materials and services to the industry. Members are located in 30 countries, with the majority found in North America (in 41 states of the U.S.) as well as Canada and Mexico.
Additional information on PMA can be found at www.metalformingadvocate.org or by contacting George Felcyn at 202-466-6210 or george.felcyn@pbnco.com
