India faces anti-dumping probe for steel imports in US
India along with four other countries is facing an anti-dumping investigation in the US for unfair practices in the import of corrosion-resistant steel products. The US International Trade Commission (USITC) has begun an investigation to determine whether to impose anti-dumping and countervailing duties on the import of these steel products from India, China, Italy Korea and Taiwan, a report said. The probe was ordered after six major US steel producers filed a petition before the USITC, alleging suppliers of these countries of causing injuries to the domestic industry. The petition was filed by the United States Steel Corporation, Nucor Corporation, Steel Dynamics Inc, California Steel Indutries, ArcelorMittal USA LLC and AK Steel Corporation on June 3, according to the USITC. The petitioners said that imports from these countries are causing material injury to the US steel producers and that significant subsidies have been provided to producers by the governments of those countries. The applicants have identified 48 subsidy programmes in China, 88 in India, 12 in Italy, 43 in Korea and 22 in Taiwan, the report said citing a statement from USITC. Preliminary inquiry is expected to be completed by July 20 and if the probe finds reasonable indication of material injury to the domestic steel industry, the investigation will continue, the report said citing an official of the US Department of Commerce. The entire investigation process is expected to be completed by August next year. Corrosion-resistant steel products are mainly used in automobiles, agricultural and industrial equipment. The import of corrosion-resistant steel products in the US from these five countries had increased from 1.5 million tonnes in 2012 to 2.75 million tonnes in 2014.
June 26, 2015 | 08:51 pm IST.