International trade ruling benefits AK Steel
Post Date: 04 Aug 2015 Viewed: 404
The United States has prevailed in a World Trade Organization challenge against China’s compliance with a trade ruling, the office of U.S. Trade Representative Michael Froman announced Friday.
This compliance challenge was the first time any WTO Member had initiated a proceeding to challenge a claim by China that it had complied with adverse WTO findings, according to Froman.
It was found in 2012 that China’s duties on grain oriented flat-rolled electrical steel were inconsistent with WTO rules. Despite these adverse findings, China decided to continue to impose duties on the steel product from the United States, according to Froman’s office. The trade representative challenged China’s refusal to comply with World Trade regulations and received the favorable ruling Friday.
Duties imposed by China contributed to more than $250 million in annual export losses for American steel exporters, according to Froman.
“This announcement will help America’s steel industry — including AK Steel and its dedicated workforce — compete in our global economy,” Sen. Sherrod Brown, D-Ohio, said in a written statement.
“Manufacturing exports are vital to Ohio workers, and this win will provide a boost to Ohio steel producers like AK Steel,” Sen. Rob Portman, R-Ohio, said in a statement.
Approximately 150 workers at AK Steel’s plant in Zanesville are particularly impacted by this case, according to Brown and Portman.
Meanwhile AK Steel announced July 28 plans to join other steel producers in filing antidumping and counter-vailing duty petitions against eight countries related to cold-rolled steel. Cold-rolled steel — used to make appliances, automotive products, containers and construction materials — comprised approximately 20 percent of AK Steel’s shipments in 2014, according to the company.
In June, AK Steel also joined other steel companies to file complaints related to corrosion-resistant steel; and last year, AK Steel won the trade case affecting non-oriented electrical steel when the International Trade Commission determined domestic industry production was materially injured by dumped and subsidized imports.