US Trade Panel Rules Steel Case in Favor of China, OthersThe US International Trade Commission (ITC) on Friday blocked the Clinton administration from imposing punitive duties on steel imports from China, Indonesia, Slovakia and China's Taiwan.The federal commission ruled 5-1 that cold-rolled steel imports from the four trade partners were not a threat to the U.S. steel industry. The ruling means the United States will not impose duties ranging from 14.97 percent to 163.89 percent on cold-rolled steel shipments, used in products ranging from automobiles to household appliances. Friday's ruling was a major victory for steel makers in Slovakia, which would have faced 109.21 percent duties. Slovakia's second-largest employer, VSZ, had been threatened with duties of 163.89 percent. Likewise, the ruling was a victory for Indonesia's PT Krakatau, which would have faced duties of 83.79 percent. Other producers in Indonesia were targeted at 43.90 percent. Cold-rolled steel makers in China had also faced punitive duties, averaging 23.72 percent, while producers in Taiwan faced 14.97 percent margins. Earlier this month, foreign steel makers lashed out at their American rivals, releasing a study alleging that protectionist U.S. trade policies have cost consumers up to 150 billion U.S. dollars over the last 30 years. |
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