Petition names 12 countries, including China, Japan, and Brazil.
Last year, 12,000 people in the American steel industry lost their jobs to unfairly traded imports. That number is gonna be added to in 2016. But domestic steelmakers aren’t sitting idly by; industrial unions and businesses in the United States have been pressing the government to look into instances of unfair trade. The aluminum industry is a recent example.
Now we have an even more recent example. ArcelorMittal USA, along with fellow American steelmakers Nucor Corporation and SSAB Enterprises, have filed petitions with the Department of Commerce and the International Trade Commission (ITC) over what they contend is unfairly traded type of steel product – carbon and alloy steel cut-to-length plate, otherwise known as CTL – coming from 12 different countries.
Here’s how ArecelorMittal puts it:
The petitions allege that subject imports were able to penetrate the U.S. market by significantly undercutting U.S. prices. As a result of increasing volumes of low-priced imports, U.S. producers have suffered significant declines in production, shipments, prices, and profits. As is true of other steel products subject to ongoing trade investigations, foreign producers of CTL plate in the target countries have massive capacity to produce CTL plate and have used that capacity to export large volumes of unfairly low-priced and subsidized product to the United States.
Learn more about the steel import crisis here.
PS: ArcelorMittal USA is a member company of the Alliance for American Manufacturing.