Tariffs divide US steel producers, manufacturers

Tariffs divide US steel producers, manufacturers

US steel companies urged the US International Trade Commission (ITC) to retain the duties on hot rolled coils imported from Brazil, Japan and Russia since the duties helped the US steel industry become more competitive. Ohio steel companies and unions asked that the ITC to keep the duties on hot rolled steel imported from Brazil, Japan and Russia in effect since US steelmakers benefited from the duties. The duties have been in effect for five years. On the other hand, automakers and manufacturers support the termination of the duties since the duties increased cost of production. Those opposing the tariffs include Ford Motor Company, General Motors (GM), Whirlpool Corporation, Dana Corporation of Toledo and Maytag Corporation. Yesterday, the ITC initiated a “sunset review” hearing to determine whether to extend the antidumping/countervailing duties on hot rolled steel imported from Brazil, Japan and Russia. The ITC has not made any decision yet.