Printer Friendly
The Free Library
22,728,960 articles and books

ITC FINDS ELECTRICAL STEEL IMPORTS INJURE INDUSTRY

    WASHINGTON, May 18 /PRNewswire/ -- The International Trade Commission (ITC) ruled today that imports of grain-oriented electrical steel from Japan and Italy injure U.S. producers, the Specialty Steel Industry of the United States announced.
    The ruling triggers the collection of antidumping duties of 31.08% on imports from Japanese producers and 5.62% for Italian producers. For the Italian producers, an additional 23.14% countervailing duty will be added to the antidumping duty margin for a combined rate of 28.76%.
    "Today's decision is welcome good news for the U.S. electrical steel industry and its workers," said an industry spokesman.  "The ITC vote is the culmination of a lengthy process whereby each and every one of the U.S. industry's allegations of dumping and injury were confirmed. With the dumping duties going into effect, fair competition should return to the U.S. grain-oriented electrical steel market."
    The ITC is a quasijudicial body that votes on whether an industry has been hurt by unfair imports.  In Japan's case, the vote was 5-0. For Italy, it was 3-1.
    The ruling caps an effort which began last August when Allegheny Ludlum Corp. and Armco Inc., both headquartered in Pittsburgh, the United Steelworkers of America, and two independent labor unions filed complaints against Italian and Japanese electrical steel producers. Specifically, Allegheny, Armco and the unions requested that the U.S. government impose both antidumping and countervailing duties on imports of grain-oriented electrical steel from Italy.  Additionally, Allegheny Ludlum and the USWA requested the government to assess antidumping duties on imports from Japan.
    Allegheny Ludlum and Armco report that approximately 82,000 tons of foreign electrical steel entered the United States in 1992 and about 115,000 tons entered in 1993.  It is estimated approximately 70% of the imports were grain-oriented electrical steel.  The two companies are the only producers of the specialty steel, used principally in the manufacture of larger power and distribution transformers.
    -0-                         5/18/94
    /CONTACT: Bert Delano, 412-394-2813, or Meg Mullery, 202-342-8439, both for the Specialty Steel Industry of the United States/


CO: International Trade Commission; Specialty A contract under seal.

A specialty is a written document that has been sealed and delivered and is given as security for the payment of a specifically indicated debt.
 Steel Industry of the
     United States; Allegheny Ludlum Corporation; Armco Incorporated ST:  District of Columbia IN:  MNG SU:


KF-DC -- DC036 -- 8297 05/18/94 18:40 EDT EDT
abbr.
Eastern Daylight Time


EDT Eastern Daylight Time

EDT n abbr (US) (= Eastern Daylight Time) → hora de verano de Nueva York

EDT 
 
COPYRIGHT 1994 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1994 Gale, Cengage Learning. All rights reserved.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:May 18, 1994
Words:375
Previous Article:FOOD INDUSTRY APPLAUDS FDA APPROVAL OF CALGENE TOMATO
Next Article:CIRCUS CIRCUS ENTERPRISES INC. GRANTED LOUISIANA GAMING LICENSE
Topics:

Terms of use | Copyright © 2014 Farlex, Inc. | Feedback | For webmasters