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US: Senator champions steel import tax to curb Asia dumping

 |  October 12, 2014

As allegations mount against steel manufacturers in China and South Korea of dumping their products in the US at below market costs, one US Senator is now looking to curb the practice with an import tax.

Reports say Senator Sherrod Brown (D-OH) is leading the fight to impose such a tariff against companies that dump steel in the country. But he isn’t being met without backlash.

Some experts argue that the taxes would only provide temporary relief for local competitors. The American Institute for International Steel, say reports, opposes any taxes imposed on South Korea by the US Department of Commerce, claiming that the measures “could exert downward pressure on imports – and upward pressure on prices.”

Reports did not indicate how far along Senator Brown is in his campaign for the import tariffs, however.

Full content: Vindy.com

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