12/9/2009
HEADLINES
Darling at Pac-West Session: Tariffs Won’t Stop Imports
More than a year before Nucor Fastener filed its antidumping petition, Vulcan Threaded Products filed a claim against threaded steel rod from China, Bruce Darling of Porteous Fastener Co. reminded attendees of a conference sponsored by the Pacific-West Fastener Association at NIFS/West.
But importers have simply found new threaded rod suppliers in Dubai, India, Malaysia, the Philippines, Taiwan, Thailand and Vietnam.
“These antidumping actions won’t stop imports,” Darling stated.
The same thing happened when the European Union imposed tariffs on fastener imports from China, prompting European importers to shift their business to Taiwan, according to Darling.
The Nucor petitions sent shock waves through the fastener industry, Darling noted.
“It was very much a wake-up call.”
While the ITC has terminated its investigation into Nucor Fastener’s claims against imports from China and Taiwan, fastener producers in both countries say U.S. fastener tariffs would “substantially” affect their operations.
Asian suppliers have reacted to the global downturn in fastener demand by laying off as much as half of their workforce while implementing furloughs and shorter weeks to manage costs.
“They see 2010 as being better than 2009, but marginally so,” Darling explained. “Expansion into new markets will be a priority, but most are counting on the U.S. market to rebound to allow for a profitable year.” ©2009 GlobalFastenerNews.com
Related Stories:
• Why the U.S. Trade Commission Rejected Tariffs
• McGrath at NIFS/West: ‘Kiss Your Importer’ For Stopping Tariffs
• Nucor Fastener Appeals ITC Vote, Presses Tariff Case Against China and Taiwan Imports
• Nucor Fastener Appeals ITC Vote on Standard Fastener Imports
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