PMA reacts harshly to recent ITC vote

PMA reacts harshly to recent ITC vote

The Precision Metalforming Association (PMA) has reacted strongly to the US International Trade Commission’s (ITC) decision to continue antidumping duties on stainless steel sheet and strip products. The ITC voted 4 to 2 to continue duties on Germany, Italy, Japan, Korea, Mexico, and Tawain. Duties on France and the United Kingdom will be lifted. While the reasons for the ITC’s decision will not be made available until later in June, William E. Gaskin, President of PMA was quick to voice his discontent at the ITC’s vote calling the duties "needless protection and a major disappointment for US manufacturers,” going on to say that the vote is, “another example of what looks more and more like the government's decision to permanently protect the US steel industry, regardless of market conditions or the damage caused to US steel users." Currently, there are 188 antidumping or countervailing duties in place on various steel or steel-related sectors. Some have been in place for over two decades. Gaskin: "Continuing stainless steel duties impacts steel consumers who need imports to sustain their business. These duties are simply not warranted and only work against U.S. manufacturers who need to source raw materials to stay competitive." PMA is the full-service trade association representing the $41-billion metalforming industry of North America-the industry that creates precision metal products using stamping, fabricating and other value-added processes. Its nearly 1,200 member companies include metal stampers, fabricators, spinners, slide formers and roll formers as well as suppliers of equipment, materials and services to the industry. Members are located in 30 countries, with the majority found in North America – in 41 states of the United States as well as Canada and Mexico.