Rising steel imports create concern among US producers
According to recent news in the market,
US steel imports have started increasing again six months after steel tariffs were lifted. The steel producers in the country, having concern about the situation demand Bush administration to take certain measures to protect steel industry.
As previously reported by SteelOrbis, Bush administration imposed tariffs on imported steel products in March 2002 to be in effect for three years however had to lift the tariffs in December 2003 to avoid from any trade war with European Union (EU).
White House implemented a monitoring system for steel imports that will be effective till March 2005. However, domestic steel producers demand the system to be permanent.
US imported 2.2 million tons of steel in April 2004, which is closer to 2.4 million tons of steel imported in April 2001, a year before tariffs were imposed. During the time, when tariffs were in effect, monthly imports fell to 1.5 million tons.