U.S. International Trade Commission Concludes Aluminum Imports Harm Domestic Sector
As MarketWatch reported, on October 19 the U.S. International Trade Commission (ITC) announced that it had unanimously determined that aluminum foil imported from Armenia, Brazil, Oman, Russia, and Turkey has injured the U.S. industry. Specifically, it was determined that this product is “sold in the United States at less than fair value and subsidized by the governments of Oman and Turkey.”
As a result of the ruling, the U.S. Department of Commerce will issue countervailing duty orders on imports of this product from Oman and Turkey and antidumping duty orders on imports of this product from Armenia, Brazil, Oman, Russia, and Turkey.
MSCI’s partners at the Aluminum Association had brought the case, and MSCI supported that action. As the Aluminum Association’s Ryan Olsen said, “This decision will help ensure that domestic producers can make full use of the more than $500 million in foil-related capital investments made in recent years. Those investments were made based on the expectation that healthy market conditions would follow from a 2018 decision to apply tariffs on unfair imports from China.”