WASHINGTON, D.C., Jan. 17 /PRNewswire/ - Slater Steels Corporation, Fort Wayne Specialty Alloys division, announced that the U.S. Department of Commerce has determined final dumping and countervailing duties on imports of stainless steel bar ranging up to 71% on products from France; 32% on products from Germany; 33% on products from Italy; 13% on products from South Korea; and 126% on products from the United Kingdom. No anti-dumping duties were assessed against Taiwan producers. The Commerce Department also announced the imposition of countervailing duties on certain Italian producers of up to 13%. Final duties will go into effect if the International Trade Commission (ITC) concludes that the U.S. industry is being injured by the imports. A determination by the ITC is expected on or before February 20, 2002. Slater Steels Corporation, Fort Wayne Specialty Alloys division, together with four major U.S. stainless steel bar producers and the United Steelworkers of America, filed an antidumping petition with the U.S. government on December 28, 2000. The petitioners charged France, Germany, Italy, South Korea, the United Kingdom and Taiwan with dumping stainless steel bar into the U.S. market. A simultaneous countervailing duty petition was filed against Italian producers alleging extensive government subsidization and requesting that additional duties be imposed to offset those subsidies. Similar duties were originally imposed in 1995 on stainless bar imports from Brazil, India, Japan and Spain. Slater Steels Corporation, Fort Wayne Specialty Alloys, and other domestic producers also have these four dumping orders in place as a result of the recent five-year extension of the orders and duties. In addition, a decision is expected in early March on the steel industry Section 201 trade investigation initiated last year by President Bush. This separate investigation includes stainless steel bar products. Stainless steel bar, produced in a variety of different shapes, cross sections, and finishes, is used in applications requiring a high degree of corrosion resistance. Examples of applications include pumps, valves, fittings, manufacturing equipment, other general industrial products, as well as automotive, aerospace and medical products. U.S. antidumping law is consistent with international trade rules as established by the World Trade Organization. Every industrialized nation has antidumping laws and most use them actively.
SOURCE Slater Steel Inc.