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The Cold Finished Steel Bar Institute (CFSBI) has sent a letter to President Donald Trump urging early action to impose a remedy under Section 232 of the Trade Expansion Act of 1962 to protect the ability of the American steel industry to supply materials critical to the nation's defense and infrastructure requirements.

Read the letter to President Trump here (PDF): CFSBI Letter to Trump

"The bottom line is that we need help, and soon," said CFSBI Chairman William Geary, President of Nelsen Steel Company. "We respectfully urge that any remedy determined in the Section 232 case apply not only to the cold finished steel bar we produce, but also to downstream component parts made by our customers which are then incorporated into subassemblies, motors, a multitude of industrial and infrastructure applications, and of course, various weapons and defense systems, which are absolutely critical to the protection of our country," Mr. Geary said.

Cold finished steel bar is incorporated into a wide range of consumer, industrial, aerospace, and military products.  Essentially any product that contains a motor or moving part contains one or more components made from cold finished steel bar.  The U.S. cold finished steel bar industry produces high-quality products on an efficient and cost-competitive basis, using highly trained workers under environmentally sound conditions.

The Secretary of Commerce initiated the Section 232 investigation on steel imports on April 19, 2017.  Section 232 investigations are initiated to determine the effects of imports of any articles on U.S. national security. In this case, the Commerce Department is determining the effect of steel imports on the national security. The Secretary initiated the investigation on steel imports in light of the large volumes of excess global steel production and capacity – much of which results from foreign government subsidies and other unfair practices – which distort the U.S. and global steel markets. Steel is used in a variety of commercial, infrastructure and defense applications.

The CFSBI is represented by David A. Hartquist of the law firm Kelley Drye & Warren, LLC, and Georgetown Economic Services (GES), a subsidiary of the law firm.

Originally published: PR News Wire

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The Cold Finished Steel Bar Institute (CFSBI) has announced the inauguration of a new, improved program to collect and aggregate industry data for carbon and alloy steel bars.

"Members of the CFSBI have been concerned for many years that the industry data which was being collected presented an inaccurate and misleading picture of the cold finished steel bar industry," said CFSBI Chairman Michael Salamon, President and Chief Operating Officer of Niagara LaSalle Corporation. "We believe the new program will prove to be substantially more accurate and valuable for our industry." Former reports may not have reasonably reflected the overall size of the U.S. market, the amount of apparent domestic consumption, nor the market's general direction and exposure to import activity."

The new program will be administered by Georgetown Economic Services (GES), a subsidiary of the law firm Kelley Drye & Warren, legal counsel to the CFSBI. GES will collect confidential monthly shipment data from member and non-member companies alike. Federal government guidelines will be followed to assure that confidential data of individual companies will not be disclosed. If some U.S. producers decide not to report to GES, estimates of their shipment volumes will be made in order to enhance the accuracy of the aggregate data. The private industry data will be aggregated with official U.S. government import and export statistics in order to portray activity in the U.S. market. The new program will be effective with January 2015 data.

Cold finished steel bar is incorporated into a wide range of consumer, industrial, aerospace, and military products. Essentially any product that contains a motor or moving part contains one or more components made from cold finished steel bar. The U.S. cold finished steel bar industry produces high-quality products on an efficient and cost-competitive basis, using highly trained workers under environmentally sound conditions.

Originally published: PR News Wire
Comments 0 Rating: Be the first person to rate this post.
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