Will US trade commissioners compensate steel firms?

Global Business

RRU CHINA US STEEL DISPUTE 2

U.S. trade commissioners are trying to determine how to compensate American steel firms.

According to U.S. officials, that is a result of the dumping of foreign steel into the U.S. market.

Representatives from a coalition of U.S. manufactures told a commissioner hearing in Washington D.C. on Thursday that reduced price of steel and subsidized imports have cost their industry billions of dollars.

CCTV America’s Roee Ruttenberg was at the hearing.

Will U.S. trade commissioners compensate steel firms?

Will U.S. trade commissioners compensate steel firms?

The Obama administration has said it would impose tariffs on what's called cold-roll steel, which is used to make auto parts and shipping containers.

The U.S. Commerce Department had already agreed with them, in theory, on at least one one type of steel, and a decision is excepted on two others.

The Obama administration has said it would impose tariffs on what’s called cold-roll steel, which is used to make auto parts and shipping containers. Other types could also follow.

Now, the U.S. international trade commission has to decide how injury is defined.

The petitioners argue it shouldn’t just include immediate losses, but also potential future injury.

The respondents want future injury to be left out but the commission is generally known for having a conservative interpretation of injury. A ruling is expected in June.