U.S. Steel Applauds ITC’s Measure Against Brazilian Steel

United States Steel Corporation today praised the decision of the U.S. International Trade Commission (ITC) to keep in place unfair trade orders applicable to hot-rolled steel from Brazil, Japan and Russia.

The effect of the decision will be to retain antidumping duty orders relating to hot-rolled steel products from Japan; antidumping and countervailing duty orders relating to hot-rolled steel products from Brazil; and the suspension agreement placing volume and price limitations on imports of hot-rolled steel products from Russia.


“The industry has made great strides in terms of remaking itself and recovering from the steel crisis, but the work is not complete,” said John P. Surma, president and CEO of U. S. Steel.


“This decision correctly recognizes that there is no place in this market for unfairly traded imports – particularly as the industry tries to solidify and build upon its recent progress.”


The Department of Commerce previously determined that revocation of the trade relief at issue would be likely to result in a resumption of unfair trade from the three countries.


The ITC’s affirmative determination was based upon its conclusion that a return of unfairly traded imports of hot-rolled steel from Brazil, Japan and Russia would be likely to result in a resumption or continuation of material injury to the domestic industry within a reasonably foreseeable period of time.


“At a time when unfair trade and unfair global rules are harming more and more American manufacturers, strict, timely and effective enforcement of our antidumping and anti-subsidy laws is critical,” Surma commented.


“This decision relates to three countries that were proven to have engaged in massive and injurious unfair trade. Domestic steel producers, like all American manufacturers, deserve a fair chance to compete in their own market – which is what this case was all about.”


In the original 1999 investigation of unfair trade from these three countries, the Department of Commerce determined dumping margins of between 41 and 43 percent for Brazilian producers, between 18 and 67 percent for Japanese producers, and over 73 percent for the investigated Russian producer.


Meanwhile, Brazilian producers were found to be subsidized at rates between 6 and 10 percent of the value of the products. These unfairly traded imports entered the U.S. market in enormous volumes – causing injury to the domestic steel industry and helping to precipitate the steel crisis that ensued.


United States Steel Corporation
www.ussteel.com


PRNewswire

Tags:

Ads

You May Also Like

Brazil Scene: Letters from Prison

Tom Phillipsby: Tom Phillips is a British journalist living in Rio de Janeiro. He ...

Biofach Latin America: A Shot in the Arm for Brazil’s Organic Products

The Latin American version of the most important organic product fair in the world, ...

Brazil Worried with Economy’s Overheating and Inflation

Copom, the Brazilian Central Bank Monetary Policy Committee,  expressed concern about inflation and advanced ...

Brazilian Favela Becomes Film and Inspiration

Jeff Zimbalist and Matt Mochary, who directed and produced Voy Pictures’ film debut “Favela ...

Ahmadinejad Blames US Media for Distortions and Invites Brazil to Joint Nuclear Effort

Just before his arrival in Brazil, which should happen this Sunday, November 22, the ...

The Lyrics

A good partnership is everything. By Jefferson de Souza, critic Mona Gadêlha’s cradle was ...

US Economic Troubles Draw Brazil Marble Firm to Middle East

Granibras, Granitos Brasileiros, a Brazilian company that sells marbles and granites, sees the Arab ...

Brazil Goes After France’s Technology to Build Its First Nuclear Submarine

Brazil wants to become the first country in Latin America to have a nuclear ...

Brazil Reaches 190 Million People, But Will Stop Growing in 30 Years

The population of Brazil reached 189.6 million and will cease to grow in 30 ...

Arrogance and Press Bashing at the Root of Dilma Rousseff’s Fall from Grace in Brazil

In Brazil, political analysts are trying to explain why Brazilian presidential elections went sour ...