The kind of global economic stress we are experiencing is bound to create tensions within the world trading system. Understandably, every company is working to improve its own position. But in countries and regions that are unconstrained by the due process requirements of the U.S. justice system, we have seen signs of trade actions that seriously undermine the global steel market. Nowhere are these destabilizing actions more apparent than in China.
China, of course, is by now the world’s largest steel producer, and market-driven companies like U. S. Steel are competing with what amounts to a coordinated, national enterprise. Because of its size, and its system, the Chinese steel industry has the potential to be very disruptive to our global industry.
As U. S. producers and the United Steelworkers allege in our pending anti-dumping and subsidy filings against tubular imports from China — we believe that the subsidized steel Chinese producers flooded into the U. S. last year severely damaged the market for this particular pipe and forced curtailment in production and employee layoffs. more »
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