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NEWS RELEASE 04-071; July 8, 2004 July 8, 2004
News Release 04-071
Inv. Nos. 731-TA-770-775 (Review)

ITC MAKES DETERMINATIONS IN FIVE-YEAR (SUNSET) REVIEW CONCERNING STAINLESS STEEL WIRE ROD FROM ITALY, JAPAN, KOREA, SPAIN, SWEDEN, AND TAIWAN

The U.S. International Trade Commission (ITC) today determined that revoking the existing antidumping duty orders on stainless steel wire rod from Italy, Japan, Korea, Spain, Sweden, and Taiwan would be likely to lead to continuation or recurrence of material injury within a reasonably foreseeable time.

As a result of the Commission's affirmative determinations and the Department of Commerce's recent affirmative findings, the existing orders on imports of stainless steel wire rod from Italy, Japan, Korea, Spain, Sweden, and Taiwan will remain in place.

Regarding Japan and Taiwan, all six Commissioners found that revoking the existing orders would be likely to lead to continuation or recurrence of material injury within a reasonably foreseeable time.

Regarding Italy, Korea, Spain, and Sweden, Chairman Stephen Koplan and Commissioners Marcia E. Miller, Jennifer A. Hillman, and Charlotte R. Lane found that revoking the existing orders would be likely to lead to continuation or recurrence of material injury within a reasonably foreseeable time. Regarding these four countries, Vice Chairman Deanna Tanner Okun and Commissioner Daniel R. Pearson found that revoking the existing orders would not be likely to lead to continuation or recurrence of material injury within a reasonably foreseeable time.

Today's action comes under the five-year (sunset) review process required by the Uruguay Round Agreements Act. See the attached page for background on these five-year (sunset) reviews.

The Commission's public report Stainless Steel Wire Rod from Italy, Japan, Korea, Spain, Sweden, and Taiwan (Inv. Nos. 731-TA-770-775 (Second Review), USITC Publication 3707, July 2004) will contain the views of the Commission and information developed during the reviews.

Copies may be requested after August 6, 2004, by calling 202-205-1809 or by contacting the Office of the Secretary, U.S. International Trade Commission, 500 E Street SW, Washington, DC 20436. Requests may be made by fax at 202-205-2104.


BACKGROUND

The Uruguay Round Agreements Act requires the Department of Commerce to revoke an antidumping or countervailing duty order, or terminate a suspension agreement, after five years unless the Department of Commerce and the ITC determine that revoking the order or terminating the suspension agreement would be likely to lead to continuation or recurrence of dumping or subsidies (Commerce) and of material injury (ITC) within a reasonably foreseeable time.

The Commission's institution notice in five-year reviews requests that interested parties file responses with the Commission concerning the likely effects of revoking the order under review as well as other information. Generally within 95 days from institution, the Commission will determine whether the responses it has received reflect an adequate or inadequate level of interest in a full review. If responses to the ITC's notice of institution are adequate, or if other circumstances warrant a full review, the Commission conducts a full review, which includes a public hearing and issuance of questionnaires.

The Commission generally does not hold a hearing or conduct further investigative activities in expedited reviews. Commissioners base their injury determination in expedited reviews on the facts available, including the Commission's prior injury determinations, responses received to its notice of institution, data collected by staff in connection with the review, and information provided by the Department of Commerce.

The five-year (sunset) reviews concerning Stainless Steel Wire Rod from Italy, Japan, Korea, Spain, Sweden, and Taiwan were instituted on August 1, 2003.

On November 4, 2003, the Commission voted to conduct full reviews. With respect to Italy and Korea, all six Commissioners concluded that both the domestic and the respondent group responses were adequate and voted for full reviews. With respect to Japan, Spain, Sweden, and Taiwan, all six Commissioners concluded that the domestic group response was adequate and the respondent group responses were inadequate, but that circumstances warranted full reviews.

Information concerning the reasons for the Commission's vote to conduct full reviews was published in the Federal Register on November 18, 2003. That notice and a record of the Commission's votes is posted on the ITC's Internet site at www.usitc.gov (under "Five-Year (Sunset) Reviews"/"Stainless Steel Wire Rod - Italy", "Stainless Steel Wire Rod - Japan", "Stainless Steel Wire Rod - Korea", "Stainless Steel Wire Rod - Spain", "Stainless Steel Wire Rod - Sweden", and "Stainless Steel Wire Rod - Taiwan").

In addition, a record of the Commission's votes to conduct full reviews is available from the Office of the Secretary, U.S. International Trade Commission, 500 E Street SW, Washington, DC 20436. Requests may be made by telephone by calling 202-205-1802.

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