Dec. 28, 2006 – On December 2006, US International Trade Commission removed most of the controversial tariffs imposed on imports on carbon-steel. This step brought joy among the automakers but proved a reason of anger for domestic steel manufacturers.
The independent federal body’s ruling terminates a strange, high profile dispute between two US smokestack industries thrashed by global antagonism.
The commission’s move will reduce the price of steel automakers pay for steel and bring the same advantage to other key steel buyers. But there is other side of the story too. These reduced prices shrink profits of several American steel manufacturers. Share prices of US Steel Corp. and other steel producers dropped reasonably after the commission made its decision public.
A trade official from the Ford Motor Co. said that the duties voted by ITC to be removed are obsolete and affects manufacturing competitiveness of America and job opportunities in US. He added that restrictions on imports have been unnecessarily supporting a healthy and profitable steel industry.
However, the domestic steel industry asserts that tariffs are required to avoid low-priced, sell-at-any-cost import activities that resulted in fall of steel industry in 1980s and 90s.
According to a research analyst at RNCOS, who has recently researched a report on “US Steel Industry – Future Outlook”, American steel makers are bearing losses because of under-pricing. The commission can charge tariffs that increase the price of the displeasing imports.
The market research report also considers the facts and issues that are critical to your success, like:
– Insight into market trends
– Account of growth sectors and factors driving change
– Competitive scenario and market leaders
– Assessment of future strategic directions
– Opportunities for the steel manufacturers in United States
– Bottlenecks and challenges
– Future outlook of the market
The steel industry of US has thrived and expands its realms geographically bringing about the economic growth. The report provides an overview of the factors that have shaped the US steel industry.
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