Brown, Portman seek import duties
United States Sens. Sherrod Brown, D-Ohio, and Rob Portman, R-Ohio, have sent a letter asking the chairman of the U.S. International Trade Commission to place import duties on Circular Welded Carbon-Quality Steel Pipe from India, Oman, United Arab Emirates and Vietnam.
Several Ohio steel producers, including Wheatland Tube in Warren and JMC Steel in Cambridge, will be affected by the commission’s decision.
“These unfairly traded imports have led to significant losses of market share and employment for the domestic industry despite a slow recovery in demand as we exited the recession,” the senators wrote. “These companies and their employees in Ohio, Arkansas and Pennsylvania have fought long and hard to compete on a level playing field. We must ensure U.S. trade laws are properly enforced and wrongdoing is aggressively penalized.”
The letter to the U.S. International Trade Commission also was signed by Sens. Mark Pryor, D-Ark; John Boozman, R-Ark.; and Robert P. Casey, Jr., D-Pa.
Newell Rubbermaid to cut 1,900 jobs
Newell Rubbermaid plans to cut more than 1,900 jobs, or about 10 percent of its worldwide work force, over the next two and a half years.
The consumer products company, known for Sharpie pens and its namesake containers, said Friday that all savings from the job cuts will be reinvested into growing its brands globally and adding new sales capabilities in emerging markets.
Newell Rubbermaid also said that its business will be restructured under two groups, a development organization and a delivery organization.
Goodyear income falls 10 percent
Shares of Goodyear Tire & Rubber Co. fell more than 10 percent on Friday as the company’s third-quarter net income and revenue dropped on lower tire sales in Europe.
The Akron company’s results fell short of Wall Street’s expectations as problems in Europe offset cost cuts and profits in North America. Its executives said additional cuts are coming because of economic uncertainty.