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U.S. Steel Hurt by Chinese Pipe Imports, ITC Says

U.S. makers of pipes used for oil wells are being harmed by a surge of Chinese imports, a U.S. agency ruled in a decision that may lead to tariffs of as much as 99 percent on $2.6 billion in goods.

The U.S. International Trade Commission ruled 6-0 in favor of domestic companies such as U.S. Steel Corp., the U.S. operations of Evraz Group SA and Wheatland Tube Co., controlled by the closely held Carlyle Group. The United Steelworkers union also joined in filing the case.

Source: Bloomberg

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