New York Pe Theater Suffers Setback Afterwards Newsprint Tariffs Shot Down

From PitchBook, August 29:

Score it: Newspapers 1, One Rock Capital Partners 0.

The USA International Trade Commission officially nixed the Trump administration's tariffs on Canadian newsprint on Wednesday, overturning a determination made before this twelvemonth yesteryear the USA Commerce Department that caused paper costs to increase yesteryear equally much equally 35% too publishers to flora farther cutbacks inwards an already struggling industry.

Wilbur Ross, the embattled USA Secretary of Commerce too onetime somebody equity titan, originally instituted the tariffs inwards March afterward North Pacific Paper Company (aka NORPAC), a manufacturing flora inwards Longview, WA, that's owned yesteryear One Rock Capital, argued that Canadian newsprint was beingness subsidized too "dumped" into the USA at unfairly depression prices. Of the v US-based mills all the same inwards operation, NORPAC was the solely companionship to complain.

Ross' determination drew a swift rebuke from the publishing manufacture too beyond. Last month, paper publishers were joined yesteryear a bipartisan grouping of lawmakers inwards appealing the determination to the USA Commerce Department. Ross ultimately relented a bit, lowering the duty yesteryear most 5 percent points too capping the tariffs below 20%.

In reaching its unanimous 5-0 decision, the ITC determined that at that topographic point was no fabric impairment beingness caused the Canadian mill's pricing. In other words, NORPAC's declaration was paper thin....MORE