U.S. Seeks to Impose Some Steel Duties

The Commerce Department, in a preliminary decision, plans to impose duties of as much as 50% on automotive- and appliance-steel imports from Indonesia, Turkey and three other countries, ruling that the metal is being sold at unfairly low prices in the U.S. The decision marks a hopeful development for U.S. steelmakers seeking to limit imports that soared from countries whose economies have been troubled. The administration cannot make a final decision on whether to impose the duties unless and until the independent International Trade Commission decides U.S. producers were indeed injured by the imports. Companies that would be affected include Indonesia’s PT Krakatau Steel, which would be hit with tariffs of 49%, and Turkey’s Eregli Demir ve Celik Fabrikalari T.A.S., with duties of 33%. Companies from China, Taiwan and Slovakia would also be affected. The more than 40 complaints U.S. steel firms have filed with the Commerce Department since early 1998 are dampening import competition and helping U.S. companies raise prices.