US Steel files complaint against Chinese steel imports by Staff Writers Washington (AFP) April 26, 2016 US Steel Corporation filed a trade complaint Tuesday against big Chinese steel makers and distributors, seeking to bar allegedly unfairly traded Chinese products from the US market. The US company, which produces and sells steel products in North America and Europe, said it had filed a complaint with the US International Trade Commission (ITC) to launch a probe under Section 337 of the Tariff Act of 1930 against the largest Chinese steel producers and their distributors. The complaint "alleges illegal unfair methods of competition and seeks the exclusion of all unfairly traded Chinese steel products from the US market," the Pittsburgh, Pennsylvania-based company said in a statement. The complaint accuses the Chinese companies of illegally conspiring to fix prices, stealing trade secrets and false labeling to avoid duties. "We have said that we will use every tool available to fight for fair trade," said Mario Longhi, US Steel president and chief executive, in the statement. The ITC has 30 days to evaluate the complaint and decide whether to open an investigation. China was on the firing line in Brussels on April 18 as ministers and top officials from steel-producing nations met to discuss cheap Chinese steel exports that are blamed for plant closures and job losses in some countries. China produces more than half of the world's steel and is accused of flooding the market with products sold below cost in violation of global trade rules. Angry steel manufacturers have urged the European Union, the second-biggest steel producer, to follow the United States in punishing China with harsh tariffs. The US in March slapped tariffs of nearly 300 percent on cold rolled steel used to make auto parts, but the EU settled on a more cautious 20 percent duty for the same product. vs/pmh
Related Links Global Trade News
|
|
The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us. |