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US panel allows import probe of steel rebar from Mexico, Turkey

By: | at 01:03 PM | Channel(s): International Trade  

A U.S. trade panel cleared the way for the Commerce Department to continue an investigation that could lead to duties on steel rebar imports from Mexico and Turkey.

American producers allege companies from the two countries are selling steel rebar, which is used to reinforce concrete, at unfairly low prices.

A majority of the commissioners at the U.S. International Trade Commission voted there was a “reasonable indication” that U.S. manufacturers were injured by imports from the two countries. That allowed the probe to proceed.

The ITC and the Commerce Department launched investigations after a petition was filed last month by Nucor Corp, Commercial Metals Co and other manufacturers.

The manufacturers accuse Mexican and Turkish competitors of unfairly undercutting U.S. prices to grab sales and market share, a trade strategy known as “dumping.” They also allege rebar imports from Turkey are subsidized by the Turkish government.

The ITC’s determination allows the Commerce Department to continue its own probe into whether the foreign companies sold their goods at unfairly low prices.

The Commerce Department will make a preliminary decision in February on duties to counter the alleged dumping from the two countries. The department is due to make a preliminary decision on duties to counter the alleged Turkish subsidies next month. (Reuters)