PMA urges ITC to revoke corrosion-resistant steel duties

Precision Metalforming Association (PMA) President William E. Gaskin today strongly urged the U.S. International Trade Commission to revoke duties on corrosion-resistant steel because "protecting a healthy steel industry that no longer needs protection at the expense of steel consumers makes no economic sense."

The ITC is holding a hearing today (October 17) as part of a "sunset review" to determine whether to terminate anti-dumping and countervailing duties (AD/CVD) on corrosion-resistant steel, a coated steel product used extensively in the manufacturing of automobiles and auto parts, in the construction industry, and in many other finished products. ITC Commissioners are expected to take a final vote on the case in December 2006.

"If manufacturers are going to have a future in this country, the U.S. government needs to stop protecting industries that don't need protection anymore—and, at a minimum, stop hurting manufacturers that are struggling to stay in business—by putting an end to senseless trade restrictions," said Gaskin.

"The ITC will revoke these duties if it finds revocation won't hurt the steel industry. The industry's own executives boast of strong profits, a healthy long-term outlook and strong demand. These duties have been in place since 1993, and the U.S. steel industry has changed completely in the past 13 years. Today they are highly competitive, cost-efficient and, as a result, highly profitable. It is obvious that revocation of the duties will not hurt steel producers. The steel industry no longer needs protection and these duties should be lifted," said Gaskin.