U.S. Department of Commerce Ruling Adds Duties
to Steel Imports from 11 Nations
Charolotte, NC - The U.S. Department of Commerce has issued preliminary
affirmative antidumping duty margins covering imports of hot-rolled
sheet steel from 11 countries.
The 11 antidumping cases were filed by Nucor, Steel Dynamics,
IPSCO, Gallatin, and five integrated producers in November. The
Commerce Department's International Trade Commission found that
steel companies from 11 nations were dumping hot-rolled sheet
in the U.S. market. The department also found that companies from
five of these countries benefited from significant government
subsidies. The department imposed preliminary countervailing duties
for subsidy in the range of 7% - 40%. The preliminary antidumping
duties ranged from 2.38% to 239%.
"Imports from these 11 countries increased from 600,000 tons
of hot-rolled carbon steel in 1998 to 4.2 million tons in 2000
through illegal dumping of their products," said Daniel R. DiMicco,
president and chief executive officer of Nucor. "We welcome continued
expeditious actions by the Bush administration to stop unfairly
"The continued systematic violation of the trade laws of this
country is an issue of vital importance to Nucor's investors,
employees and customers," DiMicco said. "We will pursue all avenues
available to us to rectify this pattern of illegal behavior."
Nucor is actively working with other producers and the Bush
administration to develop a more comprehensive approach to the
trade issue. Short term there is a clear need to curb the illegal
activity via an appropriate mechanism that could include a "201"
petition. Nucor has proposed and supports certain WTO compatible
legislative actions that strengthen our current trade laws and
streamline the antidumping suit process.
Nucor also supports multilateral negotiations that address the
global over-capacity issue. Nucor's views on longer-term solutions
include elimination of subsidies and bailouts, deterrents to constructing
facilities that are not market-justified and faster remedies when
dumping occurs. The international trade commission is expected
to issue a final injury determination by the end of August 2001.
Final antidumping duties are expected to be issued in 75 days.