In a victory for U.S. steel makers, the federal government agreed Wednesday to continue tariffs on imports of certain steel products from China, India and four other nations.
General Motors Corp., Ford Motor Co., Chrysler and other steel
consumers had opposed the tariff extension.
But a lawyer for North Carolina-based Nucor says that ending the
tariffs would have increased steel imports, harming U.S. steel
The U.S. International Trade Commission extended the tariffs on
so-called hot-rolled steel from Indonesia, Taiwan, Thailand and
Ukraine, in addition to China and India but eliminated them for
Argentina, Kazakhstan, Romania and South Africa.
Nucor attorney Alan Price says about 60 million tons of
hot-rolled steel, used to make autos, household appliances and many
other goods, is consumed annually in the U.S.