After Press from Sen. Franken, Key U.S. Trade Agency Decides Action Needed on Illegally Dumped Korean Steel
Press Release
Senator Says ITC Recognizes Harm of Low-Priced Korean Steel on American Industry
U.S. Sen. Al Franken (D-Minn.) said a finding today by the International Trade Commission (ITC) opens the door for strong U.S. action against unfairly dumped South Korean steel that is harming U.S. steel producers, including Minnesota iron ore producers.
For months, Sen. Franken has pressed key U.S. trade agencies, including the ITC, to quickly act to limit the damage being done to the American steel and iron ore industries by the unfairly priced South Korean steel.
The ITC finding that South Korean steel dumped into the U.S. market was harming U.S. producers will allow the U.S. Department of Commerce to impose tariffs against the anti-competitively-priced Korean steel coming into the United States.
In July, Sen. Franken submitted testimony to the ITC, outlining how unfairly priced Korean steel has hurt Minnesota's iron producers. You can read his testimony here.
"This finding is a victory for Minnesota's iron ore industry and the important jobs it produces," Sen. Franken said. "American iron and steel producers and our workers can compete with anyone in the world on a level playing field. But we can't accept when other countries dump their goods here at anti-competitive prices, undercutting Minnesota's producers. That's why this decision is so important. Now, it is time for the U.S. Department of Commerce to impose tariffs on this unfairly dumped steel from South Korea."
In May, Sen. Franken joined a number of colleagues in writing to the Secretary of Commerce expressing concerns about the Department's preliminary determination that Korea was not dumping steel in the U.S. and urging Commerce to take action against any unfair dumping to the fullest extent of the law. He followed up by communicating the concerns of Minnesota's iron industry about the Korean imports directly to the Department of Commerce in the days leading up to the Department's final determination that the Korean imports had been illegally dumped.
You can download a complete copy of Sen. Franken's testimony to the ITC here: http://www.franken.senate.gov/files/documents/140722USITCtestimonyantidumping.pdf.
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