12/16/2009
NEWS BRIEFS
Nucor Fastener Appeals ITC Vote, Presses Tariff Case Against China and Taiwan Imports
U.S. producers’ capacity, production and capacity utilization 2006-2008 (courtesy U.S. ITC)
Pressing its case for tariffs, Nucor Fastener has appealed the unanimous decision by the U.S. International Trade Commission to reject Nucor Fastener’s antidumping and countervailing petitions against certain standard fasteners from China and Taiwan.
Nucor Fastener attorney Alan Price called the 6-0 vote against tariffs “clearly erroneous.”
“The evidence clearly showed that the industry’s operating margins dropped by more than 50% and that Chinese and Taiwanese fasteners dramatically undersold U.S.-produced fasteners.
“We intend to vigorously prosecute this appeal and to pursue all of our other options.”
On November 6 the ITC unanimously rejected Nucor Fastener’s claims that standard fastener imports from China and Taiwan were being dumped domestically.
In its petitions, filed in September, Nucor Fastener alleged average dumping margins of 145% for Chinese imports, and 74% for imports from Taiwan.
But the ITC determined “there is not a reasonable indication that a U.S. industry is materially injured or threatened with material injury by reason of imports of certain standard steel fasteners from China that are allegedly subsidized and from China and Taiwan that are allegedly sold in the United States at less than fair value.”
In its 137-page public report “Certain Standard Steel Fasteners from China and Taiwan,” the ITC concluded that standard fastener imports did not gain more market share from 2006 to 2008. Likewise, the commission said Nucor Fastener “failed to provide adequate details” to support allegations that it was losing sales and revenues to cheaper imports.
In the notice of appeal, Price disagreed, saying Nucor Fastener provided “detailed evidence of injury.” He noted that U.S. production and capacity utilization decreased by 50%; Chinese and Taiwanese imports grew to 56.8% of the market by “pervasively underselling U.S. fasteners by significant margins”; and that the U.S. industry lost production jobs, along with declines in shipments, investment, R&D and operating profit at a time when Chinese and Taiwanese producers “substantially increased capacity and inventories.”
“The U.S. fastener industry and its workers deserve a fair opportunity to present their case,” Price emphasized.
According to the ITC, from 2006 to 2008 imports of certain standard steel fasteners from China increased by 4.48% and were valued at an estimated $291 million in 2008. Imports from Taiwan over the same time period decreased by 19.09% and were valued at an estimated $395 million in 2008.
The appeal would be heard by the U.S. Court of International Trade. ©2009 GlobalFastenerNews.com
Related Stories:
• ANTIDUMPING: Why the U.S. Trade Commission Rejected Tariffs
• McGrath at NIFS/West: ‘Kiss Your Importer’ For Stopping Tariffs
• Darling at Pac-West Session: Tariffs Won’t Stop Imports
• Nucor Fastener Appeals ITC Vote on Standard Fastener Imports
• China Imposes Tariffs on EU Carbon Fastener Imports
• China Puts Tariffs on EU Fastener Imports
Related Links:
Share: