USITC Affirmative Determination in Five-Year Sunset Review of Stainless Steel Wire Rod from Italy, Japan, Korea, Spain and Taiwan
Producers of stainless steel wire rod applauded decisions by the U.S. International Trade Commission that revoking antidumping trade duties on imports of competing products from Italy, Japan, Korea, Spain and Taiwan would likely lead to continuation or recurrence of injury to the domestic industry. The ITC’s affirmative decisions allow for the continued collection of tariffs on imported stainless steel wire rod ranging from 4.75 to 34.21 percent.
The existing trade orders have been in place since 1998. Under the Uruguay Round Agreements Act, the U.S. Department of Commerce is required to revoke antidumping duties, unless the ITC determines that material injury to the domestic industry would continue or recur.
“This is an important victory for our clients, who are coming off a difficult year,” said Kelley Drye co-counsel to the domestic stainless steel industry in this matter. “The affirmative determination will allow domestic stainless wire rod producers to take advantage of the hoped-for recovery in the domestic stainless market.“
Larry Lasoff, co-counsel to the domestic industry and also a partner with Kelley Drye’s International Trade practice said, “the affirmative determination indicates that the ITC recognized that removal of the antidumping orders would have caused producers in these five countries to direct their significant excess capacity at the United States, with severe consequences for U.S. producers. Producers in these five countries have a long history of selling dumped imports of stainless wire rod into the U.S. market.”