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US announces anti-dumping tariffs on steel wire products - Daily News Egypt

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US announces anti-dumping tariffs on steel wire products

Shortly before the US administration is to implement higher tariffs on steel and aluminum exports, it has imposed anti-dumping duties on steel wire rod from several nations, adding to trade war fears.The United States imposed anti-dumping tariffs on imports of carbon and alloy steel wire rod from several European nations, Turkey and South Korea.

Exporters in Italy, Spain, the UK and South Korea were accused of dumping carbon steel wire rod in the US, the Commerce Department said in a statement.

It said those countries dumped the product at between 11 percent and 41 percent below fair value, Turkey as at much as about 8 percent less than fair value and Britain at 147.63 percent less than fair value.

Petitions by steel firms

“President Trump made it clear from the beginning that we will vigorously administer our trade laws to provide US industry with relief from unfair trade practices,” said Commerce Secretary Wilbur Ross.

The tariffs in question are separate from general import duties on steel and aluminum that are to take effect on Friday.

The decision to impose anti-dumping duties on steel wire rod imports came after petitions filed by steel companies in Florida, North Carolina, Texas and Wisconsin, all states won by Trump in the 2016 election.

hg/jd (dpa, AFP)

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