PMA: Duties on HR steel should be eliminated

PMA: Duties on HR steel should be eliminated

The Precision Metalforming Association (PMA), a trade association representing the $41 billion-metalforming industry in North America, announced that it wants the antidumping duties on hot rolled steel to be rescinded. After the US Department of Commerce (DOC) announced that January 2005 steel imports had decreased for the fourth straight month, PMA officials called for the duties on hot rolled steel to be eliminated. On March 2, 2005, the US International Trade Commission (ITC) will begin a “sunset review” hearing to determine whether or not to terminate the antidumping/countervailing duties on hot rolled steel imported from Japan, Brazil and Russia. The duties have been in effect for five years. PMA supports the termination of these duties since their elimination would increase the domestic availability of these products. PMA claims that the continuation of the duties will hurt steel-consuming industries since they are unable to meet demand for hot rolled steel in the US.