Commerce Department Wants to Raise Tariffs on Nippon Steel
11/19/2024 - Just as Nippon Steel Corp. promised unionized United States Steel Corporation workers that it wouldn’t export slabs at the company’s expense, the U.S. Commerce Department proposed to push up tariffs on Nippon imports.
According to the Bloomberg news service, the Commerce Department on Monday preliminarily set a 29% margin on hot-rolled coil from the steelmaker.
The decision came as part of an annual administrative review tied to a dumping measure that has been on the books since 2016. Nippon Steel had been under a 1.39% tariff.
Earlier on Monday, Nippon Steel, which is looking to acquire U. S. Steel, promised members of the United Steelworkers union that it won’t displace American-made slabs with slabs shipped from its overseas mills.
The decision came as part of an annual administrative review tied to a dumping measure that has been on the books since 2016. Nippon Steel had been under a 1.39% tariff.
Earlier on Monday, Nippon Steel, which is looking to acquire U. S. Steel, promised members of the United Steelworkers union that it won’t displace American-made slabs with slabs shipped from its overseas mills.
