WASHINGTON, March 3, 2017 /PRNewswire/ -- The U.S.
International Trade Commission (ITC) today issued a unanimous
determination that the U.S. industry has been materially injured by
unfairly traded imports of stainless steel sheet and strip from
China. As a result, unfair trade orders will be issued by the
U.S. Department of Commerce in the coming days imposing antidumping
duties on imports from China
ranging from 63.86 to 76.64 percent and countervailing duties
ranging from 75.60 to 190.71 percent.
The ITC's determination brings to a successful conclusion
investigations that were initiated following the filing of
antidumping and countervailing duty petitions in February 2016 on behalf of U.S. producers: AK
Steel Corporation (NYSE: AKS), Allegheny Ludlum, LLC d/b/a ATI Flat
Rolled Products, an Allegheny Technologies company (NYSE: ATI),
North American Stainless, and Outokumpu Stainless USA, LLC.
"The U.S. producers applaud the International Trade Commission's
decision that imports of stainless steel sheet and strip from
China are causing injury to the
domestic industry," said Kathleen W.
Cannon of Kelley Drye &
Warren LLP, counsel to the petitioners. "The Commission's
determination today is an important step in restoring fair
competition in the U.S. marketplace and ensuring that U.S. imports
of stainless steel sheet and strip from China are fairly traded."
Imports of stainless steel sheet and strip from China increased by 133 percent between 2013
and 2015, receding from the U.S. market only after the trade case
was filed. China was the
largest supplier of imported stainless sheet and strip to the U.S.
market in 2015, accounting for almost half of total U.S. imports of
that product. Both domestic producers and purchasers reported
that the surge in imports from China was driven by low import pricing that
caused U.S. producers to lose significant sales.
Stainless steel sheet and strip is a flat-rolled alloy steel
containing, by weight, 1.2 percent or less of carbon and 10.5
percent or more of chromium, with or without other elements.
Stainless steel sheet and strip is used in consumer and industrial
applications where the corrosion resistance, heat resistance, or
design characteristics of stainless steel are
required.
The petitioners are represented in these actions by Kathleen W. Cannon, David A. Hartquist,
John M. Herrmann, and Grace W.
Kim of the law firm Kelley Drye & Warren LLP.
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SOURCE Kelley Drye & Warren
LLP