June 12, 2002

Fallout From Bush Protectionism

There has long been a fear that one large country's move toward protectionism will trigger other countries to make similar moves. In the case of the Ukraine, at least, this fear appears to be coming true:


From: "ChrisD(RJ)" <chrisd@russiajournal.com>
To: 'lbo-talk@lists.panix.com' <lbo-talk@lists.panix.com>
Subject: Ukraine's steel industry faces millions in losses from U.S., worl d trade barriers
Date: Wed, 12 Jun 2002 12:23:58 +0400
Sender: owner-lbo-talk@lists.panix.com
Reply-To: lbo-talk@lists.panix.com

Ukraine's steel industry faces millions in losses from U.S., world trade barriers

KIEV, Ukraine (AP) - Ukraine's steel industry faces huge losses caused by the U.S. decision to hike import tariffs and the Ukrainian government fears growing European protectionism will trigger even more, an official said Tuesday.

The Ukrainian government estimates that steel producers face annual losses of up to dlrs 220 million because of U.S. President George W. Bush's decision in March to slap steel imports with 30 percent higher tariffs to protect U.S. steel industry, news reports said. Ukraine's steel exports to the United States plummeted by about $ seven million to 1,500 tons (1,650 short tons) in April- 12 times less than the same period last year, according to the Interfax news agency.

However, Ukrainian officials are more alarmed by what they see as rising protectionist sentiments worldwide, citing the European Union foreign ministers' decision Monday to retaliate against U.S. exports as the most recent example. "The loss of exports to the U.S. market was not as great as the danger of a chain reaction of protective measures by other countries that import Ukrainian metal," said Serhiy Hryshchenko, deputy state secretary for economic policy, according to Interfax.

Chile, China, Mexico, Peru, Poland, and Russia already have restricted Ukrainian steel imports pending anti-dumping investigations, Hryshchenko said, adding that metals producers have seen their losses spike to dlrs 1.2 billion over the past two years- 60 percent of total losses from 1991 to 2000. Ukraine is the world's seventh largest steel producer, according to the Brussels-based International Iron and Steel Institute.

Posted by DeLong at June 12, 2002 11:12 AM

Comments

We can provide othe ralternative markets than the United States of America for Ukraine Steel and would welcome inquires directly from the following Ukrainian Steel mills.MARIUPOL
ZAVOD ILLIYCHA
ZAPOROJE
DNYEPROSPETSSTAL
UKRAINE METALLURGICAL CO (UMC)
UKRSIBBANK
AZONSTAL
ALCHEVSH

1 425 828 6774
Fax 1 425 827 5528
Email: UkrianeSteel@PeterPalms.com
YENAHIEVSKY
DONTESK METALWORK
UKRAINE STEEL

Posted by: Dr. palms on June 26, 2003 10:37 AM

We can provide other alternative markets than the United States of America for Ukraine Steel and would welcome inquires directly from the following Ukrainian Steel mills.

MARIUPOL
ZAVOD ILLIYCHA
ZAPOROJE
DNYEPROSPETSSTAL
UKRAINE METALLURGICAL CO (UMC)
UKRSIBBANK
AZONSTAL
ALCHEVSH
YENAHIEVSKY
DONTESK METALWORK
UKRAINE STEEL

1 425 828 6774
Fax 1 425 827 5528
Email: UkrianeSteel@PeterPalms.com


Posted by: Dr. palms on June 26, 2003 10:39 AM

We can provide other alternative markets than the United States of America for Ukraine Steel and would welcome inquires directly from the following Ukrainian Steel mills.

MARIUPOL
ZAVOD ILLIYCHA
ZAPOROJE
DNYEPROSPETSSTAL
UKRAINE METALLURGICAL CO (UMC)
UKRSIBBANK
AZONSTAL
ALCHEVSH
YENAHIEVSKY
DONTESK METALWORK
UKRAINE STEEL

1 425 828 6774
Fax 1 425 827 5528
Email: UkrianeSteel@PeterPalms.com


Posted by: Dr. palms on June 26, 2003 10:41 AM
Post a comment