U. S. Steel president/CEO applauds U.S. DOC decision on OCTG trade case
Pittsburgh-based U. S. Steel Corp. president and CEO Mario Longhi issued the following statement in response to the U.S. Dept. of Commerce's final determination in a trade case on OCTG against nine countries including South Korea. The company — the largest integrated producer of tubular products based in the U.S. — was a petitioner in the case.
"United States Steel Corp. is pleased with the U.S. Department of Commerce's final decision finding significant unfair trade margins against the vast majority of subject imports, including South Korea, for the dumping and subsidization of oil country tubular goods (OCTG) into the American market.
"The Department of Commerce's intensive investigation and final decision shows that the dumping of OCTG transpired through unfair methods and market-distorting pricing, which caused material harm to the American market. As a result of rising imports, United States Steel has suffered mightily - orders have been reduced, mills have been idled, and jobs have been lost. Our only recourse against such actions was with the U.S. Department of Commerce and their ability to support the rule of law and create a level playing field for American manufacturing. We applaud their decision to prevent further gamesmanship of our laws and to secure our nation's economy. We are also deeply grateful for our strong partnership with the United Steelworkers.
"This affirmative decision allows the case to move forward to the International Trade Commission hearing on July 15, where U. S. Steel and other petitioners will argue that the domestic OCTG industry is materially injured or threatened with material injury by reason of dumped and subsidized imports from companies in nine foreign countries."