Cleveland-Cliffs Applauds International Trade Commission’s Decision to Uphold Tariffs on Japanese Imports
10 Maggio 2024 - 6:08PM
Business Wire
Cleveland-Cliffs Inc. (NYSE: CLF) today applauded the
International Trade Commission’s (ITC) unanimous decision to uphold
tariffs on tin mill products from Japan. After recently rejecting
tariffs on tin mill products from several countries including
China, the ITC correctly declared that Japan is different – Japan
is not a fair trade partner with the United States. The United
States currently has antidumping orders on 12 steel products from
Japan. The largest producer of steel and tin mill products in Japan
is Nippon Steel Corporation.
Lourenco Goncalves, Cliffs’ Chairman, President and Chief
Executive Officer, said: “While we are disappointed in their
previous ruling on tin mill products, the ITC got this one right.
The ITC’s decision today supports what we have been saying for some
time: that Japan is a bad trade partner with the United States,
particularly in steel. Today’s decision puts the Japanese, and
Nippon Steel, on notice. It also underscores the importance of
American ownership of our steel industry. Had Nippon Steel owned
U.S. tin mill production, Nippon could have exerted influence to
make it impossible for American companies and workers to correct
unfair practices through our U.S. trade laws.”
About Cleveland-Cliffs Inc.
Cleveland-Cliffs is the largest flat-rolled steel producer in
North America. Founded in 1847 as a mine operator, Cliffs also is
the largest manufacturer of iron ore pellets in North America. The
Company is vertically integrated from mined raw materials, direct
reduced iron, and ferrous scrap to primary steelmaking and
downstream finishing, stamping, tooling, and tubing.
Cleveland-Cliffs is the largest supplier of steel to the automotive
industry in North America and serves a diverse range of other
markets due to its comprehensive offering of flat-rolled steel
products. Headquartered in Cleveland, Ohio, Cleveland-Cliffs
employs approximately 28,000 people across its operations in the
United States and Canada.
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version on businesswire.com: https://www.businesswire.com/news/home/20240510264344/en/
MEDIA CONTACT: Patricia Persico Senior Director,
Corporate Communications (216) 694-5316
INVESTOR CONTACT: James Kerr Manager, Investor Relations
(216) 694-7719
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