• Categories
  • Archives

Consumers Blast U.S. for Taxing Brazil Steel

U.S. steel-consuming industries will continue to struggle to be competitive in the wake of yesterday’s International Trade Commission’s (ITC) decision to continue import restrictions on steel, according to the Consuming Industries Trade Action Coalition (CITAC) Steel Task Force.

“Steel consumers in the United States need access to stable, adequate supplies of globally priced steel, and the ITC decision ensures that they will continue to suffer from high prices, long lead times and quality problems,” said Lewis Leibowitz, counsel to CITAC.


The ITC voted 4-2 on Thursday to continue dumping orders for 5 years on certain hot-rolled, flat-rolled carbon steel from Brazil, Japan, Russia and several other countries.


Steel consumers had argued that the duties should be discontinued because the record profits of U.S. steel producers made it highly unlikely that they would be harmed by removal of the duties.


“While 5 years ago there may have been justification for these orders,” said Leibowitz, “circumstances have changed dramatically since then. Since the domestic steel industry cannot produce enough steel to meet U.S. demand, and the industry is profitable and competitive, why should U.S. policy impose a tax on imported steel that we need?”


“Steel consumers support a strong, globally competitive domestic steel industry. They support trade protection remedies for industries that are the target of unfair trade practices. But increasingly these industries must bear the burden of continued protection for their own suppliers, far beyond any reasonable time period, and that burden is becoming too great.”


The CITAC Steel Task Force has argued that the ITC must take into account the impact on consumers and the economy as a whole, not just one segment of the economy, when determining whether to impose or continue trade remedies.


CITAC is a coalition of companies and organizations committed to promoting a trade arena where U.S. consuming industries and their workers have access to global markets for imports that enhance the international competitiveness of American firms. The CITAC STF is a coalition of companies and organizations representing steel consumers and related industries. 


CITAC Steel Task Force
www.citac.info/steeltaskforce


PRNewswire

Tags:

  • Show Comments (2)

  • Guest

    CSN = SID ->NYSE
    .

  • Guest

    Owner…Golden West Mortgage
    Good article…I am a US investor…How do I buy stock in National Steel Company (CSN) and CST on United States stock exchanges?..
    Thanks…Bob Sheets rsheets@san.rr.com

Your email address will not be published. Required fields are marked *

comment *

  • name *

  • email *

  • website *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Ads

You May Also Like

“We Are Not Dying,” Answer Indigenous Peoples to Sensationalized Photo Expo

An Amazon Indian protested outside the exhibition of controversial photographer Jimmy Nelson’s work “Before ...

Trying to Make Brazilian Cachaça a Household Word in the US

If the thought of another brand of vodka is enough to make you want ...

Italian prime minister Romano Prodi

Brazil’s Lula Calls on US and EU to Change Unfair Trading Model

In Brazilian capital BrasÀ­lia, the Prime Minister of Italy, Romano Prodi, stated this Tuesday, ...

Ruling on Sex with Minor Exposes Brazil to World Condemnation

The National Association of Federal Prosecutors, says that the decision by a panel of ...

Polls Show Brazil’s Lula Has no Chance of Being Reelected in Sí£o Paulo

If Paulistas (residents from São Paulo, Brazil’s most populous and wealthy state) could decide ...

US and Russia Have No Moral Authority to Stop Iran from Building A-Bomb, Says Lula

Brazilian president Luiz Inácio Lula da Silva, during a press conference in Berlin, this ...

Women’s Day: A Date to Celebrate the Feminine Vision of Brazil’s Ills

We are accustomed to viewing International Women’s Day as a day pertaining to the ...

Brazil’s Lula Tries to Rebuild a National Alliance

Brazil’s political scenery has been redesigned, for all practical purposes, with the inauguration of ...

Brazil’s Corruption Scandal Has Spared Lula for Now, But Government Is Paralyzed

The corruption scandal engulfing Brazil is beginning to have effects on the economy and ...

Cry of Excluded Brings 1 Million to the Streets of Brazil

The participation of indigenous people in the 2004 Cry of the Excluded protest brought ...