US Ends Tariffs On Some Steel

On December 14, 2006, US's ITC (International Trade Commission) abolished numerous controversial import duties on carbon-steel. This move cheered the automakers however the local steel producers got enraged.

Many of the thirteen year-old duties and tariffs levied on high-grade steel imports were repealed by this surprising decision of the ITC. There will be a negative impact on the domestic steel industry that will be soon evident.

American steel industry was blamed by automakers of using import protection cover up prices & profits. ITC's vote envelops all tariffs & subsidy-countering taxes in opposition to carbon steel plate, used in car assembly, from sixteen countries.

US steel producers are considered to be stronger than Canadian steel industry's strength ten years ago. US producers need no protection now. Duties make no sense due to integration in US-Canada steel industry.

US steel industry makers argued that they require tariff protection to avert low-priced & subsidized imports dump. These dumped imports in 1990s had led to major destruction of US steel industry later triggering the industry's substantial restructuring.

According to RNCOS report on US Steel Industry, the industry is closely linked with domestic economic growth & global steel market situation.

For further information about US Steel Industry please read the report "US Steel Industry - Future Outlook" published by RNCOS at http://www.rncos.com/Report/IM053.htm

RNCOS is an industry leader in the field of online business research. We specialize in industry research on various business verticals. To read our other reports, please visit us at http://www.rncos.com/Report.htm or email us at info@rncos.com.

To get the latest news visit our newly launched Blog section at http://www.rncos.com/Blog/

Comments? Questions? Email Here

© HowtoAdvice.com

How to Advice .com