HomeBlogSteel Tariff Approved By TRADE and Industry Minister

Steel Tariff Approved By TRADE and Industry Minister

In order to help save the sinking steel industry, a 10% valorem duty will be implied on certain steel products imported to the United States. Currently the products enter without any duties. The duty was approved by Rob Davis, the TRADE and Industry Minister. However, with his approval come certain stipulations and conditions.

One of the conditions was created with the intention for steel producers to refrain from raising the prices on the products that would be subjected to the duty, which in turn increased the duty imposed. Another set condition is producer of steel products must work to reduce the prices of some of their products.

Davis’ overall approval is conditional on the fact that two steel producing companies, ArcelorMittal SA and Safal Steel, investing heavily in certain production lines and must agree to not retrench workers on those production lines over a three-year period.

The 10% duty is a direct result of the current state of the steel market. It is flooded with cheap, imported products, making it difficult for domestic suppliers to stay afloat and has led to widespread dumping throughout the industry. The duty will be applied to zinc-coated/galvanized steel, color-coated steel, and aluminum-zinc coated steel.

JD Fields Construction Group

JD Fields Construction Group

Prior to founding J D Fields & Company, Jerry Fields gained decades of experience in construction products and piling applications managing equipment rentals, material sales, and product operations. Coupled with his oil and gas experience, Jerry built a rock solid foundation of industry knowledge and relationships that allowed him and his partners to start the company in 1985. Incorporated in Houston, Texas, JDF quickly diversified into multiple construction markets and applications. Today, it is a premiere international source for natural gas pipe and piling products. Strategically positioned at the Port of Houston corridor, our flagship stocking facility has 40 acres of laydown area with steel processing and fabrication capabilities. We carry more than 50,000 tons of pipe and piling inventory throughout the states to serve North America, Canada, Mexico, the Caribbean and other international markets.

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