USW Reacts to U.S. Trade Commission Vote on Hot-rolled Steel; Tariffs Retained on China, India, Indo

[Omaha Steve]

http://www.democraticunderground.com/discuss/duboard.php?az=post&forum=367

Future of American Steel Industry More Secure with Affirmative Ruling

WASHINGTON--(BUSINESS WIRE)--News From USW: The United Steelworkers (USW) said yesterday’s affirmative ruling by the U.S. Trade Commission (ITC) on retention of tariffs of hot-rolled steel imports from China, India, Indonesia and three other countries is the correct outcome, based on the facts presented by the union and the domestic steel companies at a public hearing held in July.

“We’re damn pleased,” declared Leo W. Gerard, USW president. “American steelworkers and the companies employing them produce world class steel, but the predatory practices and government subsidization policies by some of the largest foreign steel producers are illegally dumped.”

According to the ITC rulings, the six commissioners made affirmative determinations to retain tariffs on imports from China, India, Indonesia, Taiwan, Thailand and Ukraine. Negative determinations to remove import tariffs were made for Argentina, Kazakhstan, Romania and South Africa.

“All in all, this is a very good outcome for the industry and our steelworkers,” Gerard said.

More than 60 active and retired steelworkers packed into the ITC hearing room this past July 31, coming from domestic steel mills that produce hot-rolled bands from Indiana, Illinois, Ohio, Michigan and Maryland.

FULL story at link.

[MikeNearMcChord]

1. I suspect that the "Free-traders" and Freidmanites

were seeing the writing on the wall, in '08. But a great call nonetheless.