April 14, 2005

JAPANESE STEEL INDUSTRY CRITICIZES U.S. REFUSAL
TO REPEAL HOT-ROLLED STEEL ANTIDUMPING ORDER

US trade issues and Asian market conditions

New York - "The Japanese steel industry is disappointed that the U. S. International Trade Commission has decided, we believe incorrectly, not to terminate the antidumping duty order on hot-rolled steel sheet," Hidenori Tazawa, Chairman, Japan Steel Information Center, said today.

In a "sunset" investigation required under U.S. law and WTO rules, the ITC determined that the 1999 order imposing duties on hot-rolled steel from Japan should continue in effect. The ITC decided that injury from the dumping of these products was likely to recur if the order was repealed.

"The facts in this case show that this decision was not justified," Mr. Tazawa continued. "Japanese exports to the U.S. declined sharply after the preliminary determination in the original investigation and have continued to be negligible since then. The Japanese industry has focused on its home market and nearby markets in Asia which are experiencing rapid growth. That growth, and the regional focus, are expected to continue. Japanese producers are not seriously interested in reentering the U.S. hot-rolled market."

"Overall Japanese producers believe that the case for terminating the antidumping order on hot-rolled flat-rolled carbon quality steel was compelling, and that this decision is inconsistent with the facts of the case and the standard for repeal dictated by international law. We hope that in forthcoming sunset reviews involving Japan, the ITC will more carefully consider the facts and the appropriate standards."

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