© Reuters. Worker walks past rolls of steel wires at a factory in Nantong, Jiangsu

WASHINGTON (Reuters) – The U.S. government on Monday said domestic producers were being harmed by imports of fabricated structural steel from China and Mexico, and that it would instruct the customs agency to collect cash deposits from importers of such steel.

The U.S. Commerce Department said it had found that imports from Canada were not being unfairly subsidized.

Mexico said in a statement that a U.S. countervailing duty investigation of Mexican fabricated structural steel was an “ordinary” anti-dumping probe with no relation to earlier tariff threats by U.S. President Donald Trump. [E1N23800K]

Mexico added that its economy ministry would defend the interests of the companies under investigation, and that it had been actively participating in anti-subsidy procedures since early 2019. It did not give further details in the statement.

The U.S. International Trade Commission said in March that imports of fabricated structural steel from Canada, China and Mexico were harming domestic producers.

Fabricated structural steel is used in major building projects, such as bridges, buildings, parking decks and ports. An industry trade group had filed a petition asking for the trade case to be launched.

In 2018, the United States imported $722.5 million worth of fabricated structural steel from Canada, $897.5 million worth from China and $622.4 million worth from Mexico, according to the Commerce Department.

The department is expected to make its final ruling on the imports around Nov. 19.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source link

2019-07-08