AK Steel Applauds Ambassador Kirk's WTO Case Against China

20/09/2010 12:00 - 394 Views

WEST CHESTER, Ohio, Sept. 16 /PRNewswire/ -- AK Steel (NYSE: AKS) today applauded the United States' filing of a complaint against China for violating the rules of the World Trade Organization (WTO) in imposing antidumping and countervailing duties against imports of grain oriented electrical steel from the United States.

"The Chinese authorities conducted the investigation contrary to WTO rules," said James L. Wainscott, chairman, president and CEO of AK Steel. "The resulting duties are unjustified, and we are pleased that they will be reviewed by a WTO dispute settlement panel if the matter cannot be resolved through government-to-government consultations."

Mr. Wainscott added, "We appreciate the decision by United States Trade Representative Ron Kirk to pursue this WTO remedy. AK Steel will be fully supportive."

In December 2009, China's Ministry of Commerce (MOFCOM) imposed duties on imported electrical steel products. The tariffs total approximately 19.5% against AK Steel.

AK Steel is one of the largest and most technologically-advanced global producers of grain-oriented electrical steels, which are helping to meet the world's growing demand for efficient electricity generation, transmission and distribution.

WEST CHESTER, Ohio, Sept. 16
Source: reuters.com