Jun 06 2018
Washington, D.C. -- Yesterday, Congressman Jim Renacci testified in front of the United States International Trade Commission to urge the arbitrators to rule in the best trade deal for the Ohio worker.
Renacci testified 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 bearing, also known as TRBs, into the U.S. market and the domestic has already had to shut plants as a result. In 2009 Timken closed the Canton bearing facility, and in 2010 Timken closed two TRB plants elsewhere in Ohio.
“An anti-dumping order is desperately needed to protect our domestic producers from unfair trading practices that distort the market,” said Renacci. “Our local manufacturers depend on a level playing field, and I sincerely hope that upon reviewing the record the Commission will conclude that an affirmative final determination is warranted in this case.”
Exporters from Korea have sold certain tapered roller bearings in the US at 21.23 percent to 45.53 percent less than fair value. These unfairly traded imports are injuring steel in the 16th district and the rest of the domestic industry.