The U.S. had imposed import duties of 25% and 10% on certain steel and aluminum products respectively, citing concerns over national security.
SEATTLE (Scrap Monster): Charlotte, N.C.-headquartered Nucor Corporation extended full support to the U.S. government’s opposition to the recent World Trade Organization (WTO) panel decision. Furthermore, it applauded the United States Trade Representative (USTR) Ambassador Tai, General Counsel Peisch and the entire U.S. administration for their ongoing commitment towards ensuring long-term viability of the domestic steel industry in the country.
A dispute panel of the world trade body had ruled that the decision by the U.S. administration to impose duties on certain steel and aluminum products is in violation of the global trade norms. The ruling came on cases filed against duties by China, Norway, Switzerland and Turkey.
The U.S. had imposed import duties of 25% and 10% on certain steel and aluminum products respectively, citing concerns over national security.
In a statement, Nucor noted that the Section 232 measures on imports of steel were implemented in protection of national security and that they have played a key role in strengthening the American steel supply chain.
Leon Topalian, Chair, President and Chief Executive Officer of Nucor Corporation noted that the WTO dispute settlement system is broken and that it requires reforms at the earliest.
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