An investigation by the U.S. International Trade Commission (USITC) into the imports of carbon and alloy steel products on grounds of antitrust law violation has been dropped as of March 19th, Reuters reports, having failed to receive proof of antitrust injury from U.S. Steel.
In response to a statement released by the USITC announcing the decision, the China Iron & Steel Association (CISA) said that it welcomed the decision by Washington and was prepared for an escalation in trade tensions.
The U.S. has been continuously creating trade friction with China in the steel sector for many years…China’s steel industry will resolutely respond to the challenges triggered by the U.S. and make the Chinese steel industry bigger and stronger,” read a CISA statement.
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