Looking Down On The Dumps
THE COMMERCE DEPT. HAS SLAPPED ANTIDUMPING PENALTIES of 3% to 34% on imports of stainless-steel wire rod from Germany, Italy, Japan, Korea, Spain, Sweden, and Taiwan. But before the duties are levied, the U.S. International Trade Commission must decide if the industry has been harmed. A ruling is expected in September. Meanwhile, Asia's crisis could produce even more complaints as currency devaluations lower import prices, says Greg Mastel, vice-president of the Economic Strategy Institute.