TPP could hurt US titanium firms: Seiner
Jun 13, 2013 | 12:05 PM
| Frank Haflich
LOS ANGELES A proposed trade agreement that would eliminate the current 15-percent tariff on titanium imports could have a "severe and adverse" impact on both domestic titanium producers and national security, an executive from Titanium Metals Corp. (Timet) testified this week.
Elimination of the tariff from the Trans-Pacific Partnership (TPP) trade agreement would allow an "overbuilt Japanese titanium sponge industry to immediately inundate the United States market," discouraging future investment by the domestic industry, Timet vice president of business strategy and logistics Henry Seiner told the U.S. International Trade Commission (ITC) this week during an ITC hearing on the potential impact of the TPP.
Japan isnt party to the current TPP negotiations, which now include the United States and 10 other nations, but it is expected to join talks in July.....
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