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For over 70 years, BBC World Service has been the globe's most comprehensive source for news. When news breaks -- anywhere, anytime -- BBC is there.
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Classical Music With Bob Christiansen
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Economy and Business Thursday, December 31, 2009 Youngstown mayor celebrates trade decision Says a $1 billion investment rests heavily on the anti-dumping tariffs by WKSU's M.L. SCHULTZE |
 News Director M.L. Schultze | | |
| Youngstown Mayor Jay Williams is celebrating the end of 20-09 with this week's vote by the U.S. International Trade commission to impose tariffs of 10 to 16 percent on Chinese tubular steel. The trade commission says China is unfairly subsidizing tube steel and undercutting U.S. prices. The decision is seen as key to plant by French-based V&M Steel to invest as much as a billion dollars in expanding its operation in Youngstown.
Williams testified for the tariffs earlier this year, and says the significance of the tariff's cannot be overstated.
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The Youngstown mayor estimates that the V&M Steel expansion will create 800 to 1,000 permanent and construction jobs in the Mahoning Valley. The trade decision is also likely to benefit Wheatland Tube, which blames Chinese dumped imports for a drop in orders and 100 layoffs.
The Chinese claim that the U.S. is being protectionist.
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