US finds steel bar imports from Taiwan dumped

The United States Department of Commence (DOC) announced

on Friday it had made a final finding steel exporters from Taiwan were

dumping concrete reinforcing bar (rebar) in the US.

According to a DOC statement, exporters from Taiwan sold rebar in the US at 3.50 percent to 32.01 percent less than fair value.

The

DOC launched an anti-dumping duty investigation into rebar imports from

Taiwan last October, following a petition from the US Rebar Trade

Action Coalition on behalf of its members Bayou Steel Group, Byer Steel

Group Inc, Commercial Metals Co, Gerdau Ameristeel US Inc, Nucor Corp

and Steel Dynamics Inc.

After announcing the affirmative final ruling in the

investigation on Friday, the DOC will instruct US Customs and Border

Protection to collect cash deposits from importers of Taiwan-made rebar,

the statement said.

"The United States can no longer

sit back and watch as its essential industries like steel are destroyed

by foreign companies unfairly selling their products in the US

markets," said US Secretary of Commerce Wilbur Ross.

"We

will continue to take action on behalf of US industry to defend

American businesses, their workers, and our communities adversely

impacted by unfair imports."

A probe launched by the

US International Trade Commission (ITC) is underway to determine whether

the US industry is damaged by rebar imports from Taiwan. If the ITC

also makes an affirmative final determination, expected on or before

September 5, the DOC will issue an anti-dumping order.

But if the ITC makes a negative final determination, the investigation will be terminated and no order will be issued.

According to DOC data, rebar imports from Taiwan were valued at about 53 million US dollars last year.

Steel

has been at the center of trade disputes between the US and other

economies during recent months. In late April, US President Donald Trump

signed a directive asking for a quick probe into whether imports of

foreign-made steel threaten US national security.

Foreign steel producers urged caution in May, warning that new trade barriers could be both unnecessary and counter-productive.