Jul 31 2018
Washington, D.C. – This afternoon, Congressman Jim Renacci (R-OH) submitted testimony to the United States International Trade Commission to urge the arbitrators to make an affirmative final determination in favor of Ohio businesses and workers.
Renacci’s testimony was on behalf of the Timken Company, headquartered in the 16th district and employer of thousands of constituents. The Timken Company recently suffered severe harm from the dumping of tapered roller bearings, also known as TRBs, into the U.S. market and the domestic has already had to shutter plants as a result. In 2009 Timken closed the Canton bearing facility, and in 2010 Timken closed two TRB plants elsewhere in Ohio.
“We must protect our state’s businesses and workers from irreparable harm caused by China underselling our products and distorting the market,” said Renacci. “Here in Ohio, our local industries need a level playing field to be successful and I urge the Commission to conclude that an affirmative final determination is warranted in this case.”
China is currently the world’s largest producer of tapered roller bearings and the second largest exporter. It has been found that China has been underselling U.S. product by an average margin of 46%, making it difficult for U.S. producers to effectively compete. These unfairly traded imports are distorting the market for industries in the 16th district and the rest of our nation.