WASHINGTON, D.C. – Earlier today the U.S. International Trade Commission (ITC) voted to revoke tariffs on corrosion resistant steel imports from four countries while leaving in place trade restrictions against two other countries. “Today’s decision by the ITC is welcome relief to the auto and manufacturing industry in the United States. The decision will especially benefit Southeast Michigan, the epicenter of the auto industry. Access to affordable, high-quality steel is paramount to the auto industry. The ITC’s vote today is a vote for a strong and prosperous domestic manufacturing industry,” Congressman Knollenberg said. The ITC voted 4-2 to revoke duties on corrosion resistant steel imports from four countries, France, Canada, Australia and Japan. However, it upheld tariffs for imported steel from Germany and Korea.“I am pleased the ITC has finally realized that prosperity cannot be achieved through a protectionist trade agenda. The removal of trade restrictions for four countries is an encouraging sign; however, it cannot be ignored that other tariffs will remain in place for at least another five years. These tariffs are unnecessary and should have been revoked,” Knollenberg continued.In an historic collaboration, representatives of both domestic and foreign owned auto makers– including GM, Ford, DaimlerChrysler, Honda, Nissan and Toyota – were all unified in their opposition to the trade restrictions. In addition, other representatives of U.S. manufacturers and suppliers – such as the Motor and Equipment Manufacturers Association and the Precision Metalforming Association – opposed the continuation of the steel tariffs.Both domestic and foreign-owned U.S. automakers and manufacturers rely on fair-priced raw materials to be competitive in a global marketplace. Tariffs on imported corrosion resistant steel – initially implemented to protect the U.S. steel industry – cause undue financial strain on manufacturers around the country and result in job-loss and economic volatility. The ITC is required to conduct sunset reviews on antidumping and countervailing duties every five years. The corrosion resistant steel duty orders the ITC voted on were first implemented in 1993 and were last renewed six years ago. Currently there are 160 total orders in place on steel products.
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