Cleveland-Cliffs Applauds Unanimous U.S. International Trade Commission Affirmative Preliminary Vote in Tin Mill Products Trade Case
March 03 2023 - 11:28AM
Business Wire
Cleveland-Cliffs Inc. (NYSE: CLF) today applauded the
U.S. International Trade Commission’s unanimous affirmative
preliminary determination on all countries in response to
antidumping and countervailing duty petitions on tin and chromium
coated sheet steel products (“tin mill products”) filed by
Cleveland-Cliffs and the United Steelworkers (“USW”). This
affirmative preliminary determination relates to petitions seeking
antidumping duties on U.S. imports of tin mill products from
Canada, China, Germany, the Netherlands, South Korea, Taiwan,
Turkey, and the United Kingdom. The petitions also seek the
imposition of countervailing duties on U.S. imports of tin mill
products from China.
Lourenco Goncalves, Cleveland-Cliffs' Chairman, President and
Chief Executive Officer, stated, "Today’s affirmative vote by the
U.S. International Trade Commission signals real progress on our
joint effort with the USW to remedy surging imports of dumped and
subsidized tin mill products in the U.S. market. Cleveland-Cliffs
is committed to this antidumping and countervailing duty action and
we are optimistic that we will see continued progress in this case
before both the U.S. Department of Commerce and the U.S.
International Trade Commission. Today’s vote should give pause to
those facilitating the import of dumped and subsidized tin mill
products from the countries at issue in this case.”
The eight countries covered by the antidumping petitions and
their respective alleged margins are as follows:
Country
Dumping Margins
Canada
79.59%
China
122.52%
Germany
70.15%
Netherlands
125.10 - 296.04%
South Korea
13.28 – 110.5%
Taiwan
46.76 - 59.61%
Turkey
87.73 - 97.21%
United Kingdom
111.92%
Census data indicates that the United States imported over 1.42
million short tons of tin mill products from the eight subject
countries in 2022, an increase of 37.7 percent since 2019.
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 27,000 people across its operations in the
United States and Canada.
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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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