ITC made the right call on hot-rolled steel imports
Yesterday the International Trade Commission (ITC) announced the findings of its five-year review of countervailing duty (CVD) and antidumping (AD) orders placed on imports of hot-rolled steel from a handful of countries. But you know what, enough with the alphabet soup for a second. What was this case all about? From Joseph S. Pete at the Northwest Indiana Times:
The (ITC) ruled Tuesday that revoking existing duties on hot-rolled steel products from six foreign countries would cause economic damage to U.S. steelmakers and harm steelworkers, at least for the foreseeable future.
So the orders have been upheld. That’s a big deal; the steel products in question are hugely important to our domestic steel industry, because, no kidding, hot-rolled steel goes into just about everything. Cars, trains, appliances … you name it. Without those orders, the American steel industry’s health – and therefore, the thousands of manufacturing jobs it supports – would have been put at risk by international competition that competes with the benefit of heavy government subsidies.
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