WASHINGTON (Reuters) - The U.S. International Trade Commission said on Wednesday it had found that imports of cold-rolled steel products from China are hurting U.S. producers, paving the way for hefty antidumping duties and increasing trade tensions between the nations.
In May, the Commerce Department had recommended slapping Chinese steelmakers with import duties of 522 percent on the products, and anti-dumping duties of 71.35 percent on Japanese producers.
The original complaint was filed in July 2015 by major U.S. producers United States Steel (X.N), AK Steel Corp (AKS.N), ArcelorMittal USA ARCMTR.UL, Nucor Corp (NUE.N) and Steel Dynamics Inc (STLD.O).
The Chinese companies affected are: Angang Group Hong Kong Holdings Ltd, Benxi Iron and Steel (Group) Special Steel Co Ltd and Qian’an Golden Point Trading Co Ltd. Among Japanese producers are Nippon Steel & Sumitomo Metal Corp (5401.T) and JFE Steel Corp.[JFEST.UL].
Reporting by Timothy Ahmann in Washington DC; additional reporting by Josephine Mason in New York; Editing by Eric Walsh and Bernadette Baum