Washington, D.C. – U.S. Representative Mike Bost (IL-12) applauded the U.S. Department of Commerce for issuing its final determination establishing significant anti-dumping tariffs on illegally-traded steel imports from several South Korean steel companies.  The agency utilized authorities granted to it in legislation sponsored by Bost in 2015.

“I’m pleased that the Department of Commerce is utilizing the new tools we gave them to help American companies and workers respond rapidly to illegally-traded imports that hurt our companies and destroy our jobs,” Bost said. “This development is particularly important to U.S. Steel’s Granite City Works facility, which has been rocked by falling demand and a surge of illegally-traded foreign steel, including from South Korea.  These tariffs, and ongoing efforts to roll back the previous Administration’s policies hampering domestic energy production, will help increase domestic demand and provide certainty to American job creators that they won’t be undercut by illegally dumped and subsidized foreign imports.”

Background

In 2015, the Congress enacted Bost’s American Trade Enforcement Effectiveness Act, which expedites trade case considerations and enhances several authorities to address unfair foreign trade practices that artificially distort global markets and put American producers and workers at a significant economic disadvantage.  Previously, trade cases could drag on for a significant amount of time resulting in permanent injury to domestic steel producers and workers.       

 

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