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.....

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