Reed touts steel trade remedy

House Manufacturing Caucus Co-Chairman Rep. Tom Reed (R-N.Y.) announced on Tuesday that the U.S. International Trade Commission will maintain its trade remedy on overseas hot-rolled steel, which will protect steel manufacturers from unfair imports.

The ITC’s decision maintains the hot-rolled steel trade remedy with China, India, Indonesia, Taiwan, Thailand and Ukraine.

“This is a big win for the entire United States steel industry and the jobs and industries it supports,” Reed said. “The success of our local steel manufacturers depends on our ability to create a level playing field for them…”

Inequitable competition flooding the U.S. market would lead to less investment and growth of manufacturers, Reed added.

“…(Tuesday’s) news is a positive for steel manufacturers, particularly district manufacturer Nucor Vulcraft in Chemung, N.Y., as they will be able to continue their work to strengthen our economy,” Reed said.

Reed recently joined his colleagues in the House Ways and Means Committee in a letter requesting that the ITC renew countervailing and anti-dumping duties on imports from the seven countries.

“(Tuesday’s) vote by the bipartisan U.S. International Trade Commission to maintain the existing trade remedy on hot-rolled steel from China, India, Indonesia, Taiwan, Thailand and Ukraine will help ensure that Nucor teammates across the United States are not injured by unfairly traded imports,” Vulcract New York Vice President and General Manager Mike Heine said. “I commend Rep. Reed for his efforts to prevent unlawful trade practices from destroying strong American jobs and hampering a lasting economic recovery.”