Concessions sought on mineral tariffs

In testimony before the International Trade Commission, Asarco Inc.’s Emil Romagnoli said AMC believes the Uruguay Round will affect significantly the relative competitive position of the mining industry for years to come. Romagnoli is chairman of the Uruguay Round working group of the AMC trade and investment policy council.

“Failure to win concessions on barriers that exist in countries that also consume minerals and metals — such as Japan, the EEC, Brazil, Taiwan and the Republic of Korea — would distort trade in our products, typically forcing a diversion of excess supplies, often at distress prices, to the U.S. market,” he said.

Negotiations addressing minerals and metal products must take into account the spiral of foreign government subsidization in the minerals industry, the state trading of minerals and foreign regulations limiting U.S. mining industry investment, Romagnoli said.

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