US finds steel bar imports from Taiwan dumped

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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.

Foreign steel producers on May 24, 2017 called for prudence as the Donald Trump administration said he was considering possible actions to shield US companies from unfair imports. /VCG Photo

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.