Chaiman's commment regarding ITC votes to revoke trade restraints on Japanese hot-rolled steel

May 20, 2011

Eiji Hayashida, Chairman

The Japan Iron and Steel Federation

On May 19, the U.S. International Trade Commission (ITC) voted to revoke antidumping measures on hot-rolled steel imported into the U.S. from Japan and Brazil following the second sunset review of the existing trade restraints on hot-rolled steel from Japan, Brazil and Russia.

The ITCs determination is fully justified based on the supply and demand conditions for hot-rolled steel in the U.S. market. The decision also confirms the consistent position of the Japanese steel industry that exports of hot-rolled steel from Japan, which are specialty, high value added products such as those for automotive use, are not likely to lead to continuation or recurrence of material injury to the U.S. steel industry.

We welcome this decision and also express our heartfelt respect to the ITC Commissioners who handed down this fair decision. We also would like to express our sincere gratitude to everyone who extended their support to us during the sunset review proceedings, including the major U.S. automobile company that testified at the ITC hearing.

The Japanese steel industry hopes that the stance exemplified by this decision will be maintained in future sunset reviews and that existing antidumping measures on Japanese steel products, many of which have been in place for many years, will be revoked as soon as possible.

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