U. S. Steel Files 'Critical Circumstances' Allegation with U.S. Government Related to Tubular Products Trade Case
PITTSBURGH, Jan. 7 /PRNewswire-FirstCall/ -- United States Steel Corporation (NYSE: X), along with other petitioning parties in ongoing antidumping and countervailing duty investigations relating to seamless standard, line and pressure pipe from China, announced today that it was making an allegation of "critical circumstances" in the proceeding. In response to a surge of imports entering the market after the filing of these cases in September 2009, the petitioners are seeking to have remedial duties assessed on certain imports that entered the United States after the filing of petitions, but prior to the time in which duties are normally assessed.
In antidumping and countervailing duty investigations, remedial duties are normally assessed as of the date of an affirmative preliminary determination of unfair trade at the Department of Commerce. Under U.S. and international law, however, duties can be assessed on imports that entered the U.S. market up to 90 days prior to such a determination where evidence exists that foreign producers surged into the market in an attempt to avoid duties.
In the present case, Chinese imports of seamless standard, line and pressure pipe increased by more than 290 percent in the three months after the filing of petitions, as compared to the three months prior to the filing. If the petitioners are successful in achieving a finding of critical circumstances, remedial duties could be assessed on imports entering the market within 90 days prior to the publication of the preliminary countervailing duty determination in this proceeding. The Department of Commerce is currently scheduled to make its preliminary determination on Feb. 16, 2010.
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SOURCE: United States Steel Corporation
Web site: http://www.ussteel.com/