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. Last Updated: 07/27/2016

U.S. Moves Toward New Steel Sanctions

WASHINGTON -- The United States is one step away from slapping punitive tariffs on one type of stainless steel from Japan, Spain and four other countries.

U.S. President Bill Clinton's administration found Monday that those countries illegally price stainless round wire in the United States. It will impose tariffs of as much as 36 percent if an independent agency finds that the pricing practices have injured or could injure U.S. producers.

The U.S. International Trade Commission is to rule by mid-May.

"We are very pleased,'' said George Kurisky, chairman of the U.S. Stainless Wire Action Committee.

Ten U.S. manufacturers sought tariffs a year ago, accusing Canada, India, Japan, South Korea, Spain and Taiwan of dumping round wire in the U.S. market at prices below production costs or home-market prices.

Monday's Commerce Department ruling represents the latest in a string of victories for the U.S. steel industry, which has yet to lose a key ruling in trade complaints filed to combat low-priced imports.