ITC CONCERNED OVER SURGING STEEL WIRE ROD IMPORTS FROM MEXICO, CANADA
The U.S. International Trade commission said a surge in U.S. imports of certain steel wire rod from Canada and Mexico is undermining the effectiveness of the tariff-rate quota established by President Bush in February.
Imports from Canada and Mexico were not included in the relief provided by the president following the ITC's 1999 global safeguard investigation on certain steel wire rod. The president on Feb. 18 authorized for imports from Canada and Mexico to be included if he determines that a surge of these imports undermines the effectiveness of the relief.
Steel wire rod from Canada and Mexico have become subject to quantitative limits under the TRQ and the over-quote duty, which is currently 7.5 percent.
The ITC's ruling is the result of an investigation requested July 24 by the U.S. industry. The commission has forwarded its findings and will forward its views to the president by Sept. 7, for Bush to make the final decision.