Bill Would Increase Duties on Russian Ferrosilicon and Support Production and Jobs in Alabama
WASHINGTON – Today, U.S. Senator Tommy Tuberville (R-AL) and Senator Sherrod Brown (D-OH) introduced bipartisan legislation to support American production and increase duties on Russian imports of ferrosilicon, a material that improves the strength and quality of steel that is used in the manufacturing of steel appliances, bridges, automobiles, and more.
“We don’t need to rely on Russia for the iron alloys we use for batteries, steel, semiconductors, and cleaning supplies. We make them right here in Alabama,” Senator Tuberville said. “I believe in fair trade; we cannot continue being dependent on our enemies. This bipartisan legislation would help secure our supply chain and ensure jobs and opportunity stay in Alabama.”
Congresswoman Carol Miller (R-WV) and Congresswoman Terri Sewell (D-AL) introduced companion legislation in the U.S. House of Representatives.
BACKGROUND:
The U.S. currently imports around 40% of all ferrosilicon imports from Russia, which limits American production and jobs.
Currently, 45% tariffs have been imposed on all forms of ferrosilicon imported from Russia, except for a ferrosilicon containing 75% silicon (Si 75% ferrosilicon). Increasing the tariff on Si 75% ferrosilicon will deny the Russian government hard currency and prevent them from dominating the U.S. market. Russian prices of Si 75% ferrosilicon have increased significantly since Russia invaded Ukraine.
The bipartisan legislation would:
1. Increase duties on Russian ferrosilicon in line with other types of silicon duties
2. Require a comment period for American producers to weigh in with USTR when they consider increases in duties
3. Extend the authority to the President to continue increasing duties on products from Russia and Belarus for another year
Currently, there are two U.S. based producers of Si 75% ferrosilicon, CC Metals and Alloys, LLC and Ferroglobe PLC. Two of Ferroglobe’s production plants are in Selma and Bridgeport, AL. The American ferrosilicon industry currently has excess capacity, and producers in Alabama and elsewhere have indicated they could increase production to make up the loss of Russian market share, creating jobs and economic growth in American communities.
Senator Tommy Tuberville represents Alabama in the United States Senate and is a member of the Senate Armed Services, Agriculture, Veterans’ Affairs, and HELP Committees.
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