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Wednesday, July 16, 2014

Ohio Stands to Benefit From Ruling Against Illegal Steel Dumping

From the Toledo Blade:
Labor and political leaders said Monday that a recent finding from the U.S. Department of Commerce on illegally priced imported steel should help boost Ohio’s economy. 
Late last week, the Commerce Department ruled that steel manufacturers in South Korea and eight other countries had sold hundreds of millions of dollars worth of steel tubing into the United States last year at less than fair value. The Commerce Department calls that dumping, and it’s illegal under U.S. law. 
Rep. Tim Ryan, a Democrat whose congressional district includes Youngstown, said the ruling was essential to keep Ohio’s steel industry strong. 
“This ruling on South Korea is absolutely huge for our community, it’s huge for our manufacturing base in Ohio, and puts us on stable footing to continue moving,” Mr. Ryan said. 
The ruling, which still must be confirmed by the United States International Trade Commission, is specific to a type of steel tubing used extensively in the burgeoning domestic oil and gas industry, including the Utica Shale fields in eastern Ohio.
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