Japan mulls action against U.S. steel ruling
Japan mulls action against U.S. steel ruling
TOKYO (AFP): The Japanese government and steel industry
representatives said Saturday they were considering counter-
actions against a U.S. decision to slap punitive duties on
imports of cheap Japanese hot-rolled steel.
Nippon Steel Corp., the country's top steelmaker, said it
might press the government to appeal the ruling before the
disputes panel at the World Trade Organization (WTO).
The trade ministry said it would scrutinize the U.S. decision
for any irregularity.
The U.S. International Trade Commission (ITC), a federal
agency that monitors foreign compliance with U.S. trade law,
ruled on Friday that unfairly underpriced Japanese hot-rolled
steel imports harm the U.S. steel industry.
As a result, the U.S. Customs Department will require
importers of steel from Japan to pay cash deposits equal to
"dumping" margins of between 17.86 and 67.14 percent, which have
been set by the Commerce Department.
"We'd like to examine carefully whether the ITC's ruling was
appropriate or not," the ministry of international trade and
industry said, adding the reason for the U.S. decision was
unclear.
The ministry may appeal to the world trade body if the U.S.
agency is found to have made an arbitrary move against WTO rules
in the decision-making process, the Sankei Shimbun said.
The ITC's decision was the final step in a complaint filed by
the U.S. steel industry in September 1998.
Nippon Steel called the ruling "extremely regrettable."
"We'd like to consider necessary measures, including
requesting the Japanese government to bring the case to the World
Trade Organization, let alone the U.S. Court of International
Trade," the company said in a statement.
It added that it was "difficult to understand what kind of
reason has led to such a decision."
According to the economic daily Nihon Keizai, Nippon Steel
accused the U.S. agency of bowing to political pressure from the
U.S. steel industry.
It said ITC had "shortened the duration of its investigation
into the case and taken other extraordinary procedures."
International Trade and Industry Minister Kaoru Yosano was
reported to have complained about a series of U.S. anti-dumping
charges on imports of various kinds of steel from Japan.
Yosano handed a letter to U.S. Ambassador to Japan Thomas
Foley late Friday, warning that the U.S. moves could lead to
"protectionism," the Jiji Press news agency said.