US Imposes Antidumping Duties on Japanese Steel

The U.S. Department of Commerce said Tuesday it has decided to impose antidumping duty on imports of steel reinforcement bar from Japan after concluding that it was sold at unfair prices in the United States.

Following the final decision reached by the department, Japanese exporters, including Jonan Steel Corp. and Kyoei Steel Ltd., could face antidumping duty from 206.43 percent to 209.46 percent, the department said.

The duties will be imposed following the backing of the independent U.S. International Trade Commission, which is conducting a parallel investigation on whether the U.S. producers have been harmed by steel rebar imports from Japan. Its decision is expected on or before June 29.

“The United States can no longer sit back and watch as its essential industries like steel are destroyed by foreign companies unfairly selling their products in the U.S. markets,” Commerce Secretary Wilbur Ross said in a statement.

Advocating “America First” trade policy, U.S. president Donald Trump has vowed to address what he says are unfair trade practices of U.S. trading partners and to reduce U.S. deficits.

via Mainichi

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza