More taxes to be added to imported steel

Oct 10, 1998
I took the below article off I know a few people that work in steel mills in
the U.S.A., so this will help them keep their job. That is good.

What I hope does not happen again is, the last time there was a taxed added, quite a
few knife supply companies raised the price of their steel immediately. I firmly believe
in making a profit. Profit is not a dirty word. Obscene profit is nothing but greed. As
far as I know, Admiral steel was the only supplier that did NOT raise their prices until they received their next order of steel. They are a good company to do business with.

The below is from

WASHINGTON (Reuters) - The U.S. Commerce
Department on Friday found evidence that eight
nations were dumping in the U.S. market stainless steel
sheet and strip in coils -- the stainless steel industry's
largest line of products.
The department set antidumping duties ranging from
about 3 percent to nearly 60 percent on imports from
France, Germany, Italy, Japan, Mexico, South Korea,
Taiwan and the United Kingdom.
The duties would go into effect as of later this
month if the U.S. International Trade Commission finds
that the U.S. industry is being hurt by the imports, the
Specialty Steel Industry of North America said.
The U.S. steel industry has been pressing
government officials to do something about a flood of
cheap steel imports from Asia and other parts of the
The stainless steel sheet and strip case was filed in
June by four U.S. producers and the United
Steelworkers of America along with two other
independent unions.
The companies joining the case were Allegheny
Ludlum Corp., a subsidiary of Allegheny Teledyne Inc.
(ALT); Armco Inc. (AS); J&L Specialty Steel Inc.;
and Washington Steel Division of Bethlehem Steel
Corp. (BS)
USX Corp. (X) , the largest U.S. steel producer,
did not take part.
The eight nations cited in the case account for about
85 percent of U.S. stainless steel imports during the
first nine months of this year.
A final ruling is expected in May, industry
spokespeople said.