Washington, D.C. —Today, Rep. Mike Bost (IL-12) applauded a U.S. Department of Commerce decision to impose substantial tariffs on illegally dumped and subsidized foreign steel. The new penalties are partially the result of legislation Bost introduced last year to improve America’s anti-dumping and countervailing duty trade remedy laws.
“Granite City Works and other domestic steel producers have been undercut by unfair foreign trade for too long,” said Bost. “That’s why I am pleased that the Department of Commerce is making effective use of the tools provided them in our legislation. This is no doubt a victory for America’s steel industry, but the battle is far from over. The ultimate goal remains getting our steelworkers back on the job as soon as possible.”
Bost’s bill, the American Trade Enforcement Effectiveness Act, was signed into law in June 2015. It makes it easier for American workers and companies to prove economic harm from illegally traded products, speeds up the complaint petition process, and allows the government to impose maximum penalties on illegally dumped and subsidized steel. Previously, companies had to suffer significant harm and often wait for years for remedies to take effect.
The Department of Commerce made its affirmative final determinations in the antidumping and countervailing duty investigations concerning imports of hot-rolled steel against Australia, Brazil, Japan, Korea, the Netherlands, Turkey and the United Kingdom. The final step in the process is an International Trade Commission vote to affirm the steel industry has suffered injury which is scheduled for September.