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US Commerce Dept. Accuses UK, Turkish Exporters of Dumping Steel Wire Rod

© WikipediaMain entrance US Commerce Department Building
Main entrance US Commerce Department Building - Sputnik International
WASHINGTON (Sputnik) - The US Commerce Department in a determination said that Turkey, the United Kingdom and three other countries have violated fair trade practices by selling steel wire rod at prices that hurt America’s economy.

"The Commerce Department determined that exporters from Italy, Korea, Spain, Turkey, and the United Kingdom are dumping carbon and alloy steel wire rod in the United States," the determination said on Tuesday.

US President Donald Trump, right, speaks to British Prime Minister Theresa May during in a working dinner meeting at the NATO headquarters during a NATO summit of heads of state and government in Brussels on Thursday, May 25, 2017. - Sputnik International
Trump Pledges US to Become UK's Major Trade Partner After Brexit
US President Donald Trump earlier signed a new policy to impose 25-percent and 10-percent tariffs on imported steel and aluminum respectively. The move has been sharply criticized by many officials around the world. EU Trade Commissioner Cecilia Malmstrom threatened responsive measures against certain groups of US products, while the International Monetary Fund Managing Director said that the tariffs could lead to a trade war, warning that it would have grave macroeconomic consequences.

UK Trade Secretary Liam Fox said recently that the US tariffs against UK steel was the “wrong way to go about it,” noting that such protectionist measures "never really" work.

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