International Trade Law News

Preliminary steel import data released by the U.S. Department of Commerce confirm that U.S. steel imports increased from August to September 2003, although they remain at modest levels and are down significantly for the year. Total steel imports in September 2003 were 1.9 million tons compared to 1.7 million tons in August 2003, an 8.6% increase. However, September 2003 imports were down by more than 41% compared to September 2002. Year to date import data confirmed a 26.9% decrease from 2002 (24.0 million tons in 2002 to 17.5 million tons in 2003). While a weak economy has decreased the need for imported steel, much of the decrease is a result of the section 201 tariffs and tariff-rate quotas imposed by the U.S. on many steel products in March 2002.