My learned colleague Stuart mentioned to me yesterday that he saw an article in a trial subscription of Steel Business Briefing, that steel producers in the US “were exporting finished products overseas at under domestic prices.” Now if that wasn’t a hoot given all the squawking by US steel companies over foreign material entering the US market (which we have been regularly reporting on here here and here,) I don’t know what is!
If US producers sell under the domestic price then they could be held liable under anti-dumping claims. Though one of my favorite past-times is commenting on the all-so-powerful steel lobby, I can’t deny the fact that US exports overseas are very strong because of the [low] value of the dollar. And in all fairness US steel products are not the only recipients of overseas contract awards. Much of the reason the US economy hasn’t completely fallen in the gutter relates to the value of the dollar and strong US exports.
But it does seem well, rather fitting, that other nations should pull the anti-dumping trigger, an anti-competitive technique honed and refined by the ole US of A steel industry.