Japanese steel producer Nippon Steel Corporation has stated that it will comply with US trade law, following its acquisition of United States Steel (US Steel). According to the company, this decision is in line with its intention and commitment to support and further expand the US-based company.
Accordingly, the Japanese steelmaker will not intervene in US Steel’s determinations on trade matters or its decision to seek trade measures such as antidumping duties, countervailing duties, and emergency import restrictions from the authorities under US trade law, even if these measures target unfair imports from countries in which Nippon Steel is operating.
Nippon Steel also pointed out that it will work together with US Steel to achieve the latter’s aim of becoming the world’s number one steelmaker, investing at least $1.4 billion and offering its advanced technology to provide more advanced, eco-friendly and sustainable steel products to its customers in the US, thereby strengthening its competitiveness. Thus, the Japanese company will make use of US trade measures to remedy the situation, provided that unfair imports harm US Steel.