U.S. steel companies are seeking reforms at the federal level that will help level the playing field with China and make it easier for them to win anti-dumping and countervailing duties on imports from around the world. The reforms are part of the America COMPETES Act, H.R. 4521 (117), which passed in the House in February of this year. The companies are facing some opposition, however, from other industry groups including automakers, retailers, clothing companies, electronics importers and the U.S. Chamber of Commerce, who say the proposed changes should be dropped because of their potential harmful inflationary effects on businesses and consumers. They also warn the changes would affect more than just Chinese goods. Opponents of the proposed reforms said in a letter to members of Congress that the proposed changes would make it easier for other domestic producers of products such as lumber and fertilizer to win new duties on imports.
MMM’s Will Planert was called for comment regarding opposition to the bill and said that, “This is just a vehicle to get a wish list of domestic petitioner changes to the law passed. They really aren’t connected to China at all. There are already extensive anti-dumping and countervailing duties on steel imports from China, in addition to other tariffs imposed by former President Donald Trump.”
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