Auto suppliers applaud resolution on steel hearings
The Motor & Equipment Manufacturers Association (MEMA) commended Rep. Joseph Knollenberg (R-Mich.) on February 10 for introducing in the House of Representatives HR 84, a resolution calling on the International Trade Commission (ITC) to consider—and report on—the impact of U.S. antidumping or countervailing duties on steel-consuming manufacturers. Antidumping or countervailing duties are imposed on products from countries covered by antidumping or countervailing duty orders.
"Decreased availability, reduced quality, delayed deliveries, and artificially high steel prices have been a leading cause of job losses and even bankruptcies among auto suppliers," said Ann Wilson, MEMA vice president of government affairs. "We believe the duties that will be reviewed by the ITC have created distortions in the market and are no longer necessary given the health of the domestic steel industry, and we're delighted that Congressman Knollenberg has called attention to the importance of the hearings."
The ITC hearings will be held in March and April to review duties on imported hot-rolled, flat-rolled, and stainless steel strip and coil previously found to be unfairly priced or "dumped" into the U.S. market, or subsidized. The procedures, which are held five years after the duties are put in place, are called "sunset reviews" because the orders will be revoked if the ITC determines that revocation of the orders would not be likely to lead to continuation or recurrence of material injury to the domestic steel producing industry within a reasonably foreseeable time. Upon such finding by the ITC, the Department of Commerce will revoke the orders.