RMA blasts ITC decision on steel wire rod imports

WASHINGTON (Oct. 17)—The International Trade Commission's vote to levy high tariffs against steel wire rod imported from seven countries will hurt U.S. tire manufacturers who need that rod for tire cord, according to the Rubber Manufacturers Association. On Oct. 2, the ITC voted to slap duties as high as 369 percent on imports of tire-cord-quality steel wire rod from Brazil, Canada, Indonesia, Trinidad and Tobago, Mexico, Ukraine and Moldova. Countervailing duties—designed to balance subsidies that industries receive from their home governments—were levied against Canada and Brazil, while all seven countries will have to pay antidumping duties designed to counteract sales in the U.S. at less than fair value. The commission voted 5-0 to levy tariffs on six of the countries, and 4-1 on Trinidad and Tobago. It voted 4-1 to exempt German wire rod from the tariffs, and it also voted to exempt one of the three grades of wire rod.