Detroit News Washington Bureau reported that Ford Motor Co has urged a US panel to lift tariffs on antidumping duties on hot rolled steel from Brazil, Japan and Russia.
As per report, Mr Paul Vandevert international trade counsel for Ford urged the US International Trade Commission to lift the duties on foreign steel.
Mr Vandevert said that "If we are going to succeed, our suppliers, including our steel suppliers, must provide us with the best in materials and parts. At Ford we believe that innovation comes from healthy and fair competition. Just as we have to be world class with our product, all suppliers up the chain must face the world's best competition as well."
As per report, Mr Paul Vandevert international trade counsel for Ford urged the US International Trade Commission to lift the duties on foreign steel.
Mr Vandevert said that "If we are going to succeed, our suppliers, including our steel suppliers, must provide us with the best in materials and parts. At Ford we believe that innovation comes from healthy and fair competition. Just as we have to be world class with our product, all suppliers up the chain must face the world's best competition as well."
Mr Vandevert said that Ford's partnership with US steel producers is critical to Ford's future. He added that "The restructured steel industry is ready to face competition. It has weathered the worst recession in 70 years, and is making money again. It has shown that it can hold prices up even in the sharpest downturn, and that it can pass through high raw materials prices."
But a dozen senators wrote the ITC this week urging them not to lift the duties, including Senators Mr Sherrod Brown, D Ohio, Mr Rob Portman, R Ohio, Mr Carl Levin, D Detroit and Mr Debbie Stabenow, D Lansing.
They noted that steel imported from Brazil, Japan, and Russia have fallen sharply. They wrote that "We urge the Commission to continue this relief so that the domestic industry does not once again face the kind of devastating harm that it suffered before trade relief was provided."
They noted that at the peak imports from Brazil, Japan, and Russia totaled 7 million tonnes. As a result, their share of the US merchant market more than quadrupled, from 5% in 1996 to 21% in 1998.
The senators wrote that "While the performance of the industry has improved as economic growth has resumed following the recent recession, the industry is still in a fragile state."
Michigan is home to steel mills, including Severstal North America's mill in Dearborn. The company that provides steel to Ford and General Motors Co asked the Obama administration for a USD 730 million loan to produce light weight, higher strength steel.
The hot rolled steel industry had lost USD 285 million before the orders were renewed in 2005. Since then, the industry has made USD 19.7 billion and hot rolled steel prices are up nearly 30% in 2011.
Mr Vandevert said that "We have a restructured, competitive US industry that has proven itself. Foreign steel mills have great opportunities in growing markets in their own backyards. There is no clear reason for them to ship large volumes to the United States, and the US industry has proven that it can face competition. We urge you to revoke the orders."
But a dozen senators wrote the ITC this week urging them not to lift the duties, including Senators Mr Sherrod Brown, D Ohio, Mr Rob Portman, R Ohio, Mr Carl Levin, D Detroit and Mr Debbie Stabenow, D Lansing.
They noted that steel imported from Brazil, Japan, and Russia have fallen sharply. They wrote that "We urge the Commission to continue this relief so that the domestic industry does not once again face the kind of devastating harm that it suffered before trade relief was provided."
They noted that at the peak imports from Brazil, Japan, and Russia totaled 7 million tonnes. As a result, their share of the US merchant market more than quadrupled, from 5% in 1996 to 21% in 1998.
The senators wrote that "While the performance of the industry has improved as economic growth has resumed following the recent recession, the industry is still in a fragile state."
Michigan is home to steel mills, including Severstal North America's mill in Dearborn. The company that provides steel to Ford and General Motors Co asked the Obama administration for a USD 730 million loan to produce light weight, higher strength steel.
The hot rolled steel industry had lost USD 285 million before the orders were renewed in 2005. Since then, the industry has made USD 19.7 billion and hot rolled steel prices are up nearly 30% in 2011.
Mr Vandevert said that "We have a restructured, competitive US industry that has proven itself. Foreign steel mills have great opportunities in growing markets in their own backyards. There is no clear reason for them to ship large volumes to the United States, and the US industry has proven that it can face competition. We urge you to revoke the orders."
(Source: steelguru.com)
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