Obama asked to set trade precedent
Sep 11, 2009 | 12:45 PM
| Scott Robertson
The Congressional Steel Caucus is asking President Obama to set a precedent for trade law enforcement by accepting the U.S. International Trade Commission's recommendation of a Section 421 safeguard action against Chinese shipments of tires.
The caucus letter to the President—just days ahead of a scheduled Sept. 17 decision in the tire case—came as overall Chinese steel exports surge and some in the U.S. fear more steel is on its way here from China.
Analyst Michelle Applebaum of Steel Market Intelligence, Chicago, pointed out in a research note that steel exports from China totaled 2.08 million tonnes in August, up 15 percent from 1.81 million tonnes in July and the highest monthly total this year. She said the surge was due to record Chinese steel output and the ramp-up of export tax incentives. China's uptick in exports and a 16-percent decline in total imports, she said, resulted in China reverting back to a net steel exporter for the first time since February.....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.