International Steel Prices
July 15, 2014
WTO Rules US Import Tariffs on China and India Were Unfairly Levied
Written by Sandy Williams
Just as the steel industry took a breath of relief at the OCTG decision, the World Trade Organization announced that the United States was unfairly imposing countervailing duties on steel exports from China and India.
According to the July 14, WTO decision, the United States acted inconsistently with articles 1, 2, 10, 11 and 32.1 of the SCM agreement (Agreement on Subsidies and Countervailing Measures). Essentially, the WTO is saying the U.S. broke the rules when assessing duties on what it determined were subsidized exporters.
