US rules against Turkey in steel dispute

President Barack Obama’s administration has sided with American steel producers in an international trade dispute, ruling imported steel reinforcing bar from Turkey as well as Mexico unfairly undercuts US prices.

Monday’s preliminary decision by the US Department of Commerce means companies in Turkey and Mexico will be subject to immediate duties.

A final determination won’t be made until summer. But within a week the US government will stop distribution at the nation’s borders until a cash bond or deposit is posted.

Steel reinforcing bar is known as steel rebar and is used to reinforce concrete. Steel producers in Mexico and Turkey have denied they’re violating trade laws.

SOURCE: TODAY’S ZAMAN