U.S. opens national security probe into vanadium imports (Reuters U.S. – June 2, 2020)

https://www.reuters.com/

WASHINGTON (Reuters) – The U.S. Commerce Department said on Tuesday it was opening an investigation into whether imports of vanadium, a metal used in aerospace, defense and energy applications, impair U.S. national security.

The “Section 232” probe is similar to ones that resulted in broad tariffs on steel and aluminum in 2018 and a probe underway into imports of titanium sponge.

The department said the domestic producers that petitioned the agency, AMG Vanadium (AMG.AS) and U.S. Vanadium LLC, assert that they are hurt by unfairly priced imports, value added tax regimes in other vanadium-producing countries and “the distortionary effect of Chinese and Russian industrial policies.”

“Vanadium is utilized in our national defense and critical infrastructure, and is integral to certain aerospace applications,” Commerce Secretary Wilbur Ross said in a statement.

For the rest of this article: https://www.reuters.com/article/us-usa-trade-vanadium/u-s-opens-national-security-probe-into-vanadium-imports-idUSKBN2391WY?feedType=RSS&feedName=newsOne

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