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    Atlas Petroleum, partners advance Venus oil discovery offshore Equatorial Guinea

    DeepOcean charters offshore support vessel to strengthen customers oil and gas, renewables assets

    DeepOcean charters offshore support vessel to strengthen customers oil and gas, renewables assets

    Carbon+Intel - DNV and energy majors launch JIP to develop low-pressure CO2 transport by ships

    MicroSeismic wins second Department of Energy grant for carbon capture and storage services

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    LR green lights Rotoboost’s pre-combustion carbon capture system

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    German Energy Regulator Does Not Dwarf Tough Road Ahead

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    UN Condemns Energy Giants For Ignoring Science of All Things

    Global oil and gas projects pipeline at US$4 trn

    BP begins gas production at West Nile Delta project

    BP begins gas production at West Nile Delta project

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    Bechtel and Cheniere Deliver LNG Ahead of Schedule on US Gulf Coast

    ABB wins $79m order for Bab onshore project in Abu Dhabi

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    Phillips 66 and Bridger Pipeline LLC Announce Open Season for Rockies and Bakken Crude Oil Pipeline System

    BHP successful in bids for blocks in the offshore Orphan Basin in Eastern Canada

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    Breaking the Application Barrier: Why Data is the Most Valuable Asset in the Oil and Gas Industry

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    bp and Oman form strategic partnership to progress significant renewable energy and hydrogen development

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    OERA & ONHYM Reach Agreement to Enhance Offshore Energy Research & Development

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    chevron invests in carbon capture and removal technology company, svante

    bp looks to further developments at Tangguh with PSC extension

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    QatarEnergy, GE to develop carbon capture roadmap

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    Transocean secures offshore drilling rig contract from Wintershall and OMV

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    CNOOC Limited Announces Caofeidian 11-1/11-6 Oilfield Comprehensive Adjustment Project Commences Production

    Vital Energy acquires oil production assets in Permian basin for $128 million

    INPEX sells Eagle Ford tight oil production and development assets to Repsol

    Matador Resources acquires Delaware basin assets for $1.6 billion

    Funding For Oil And Gas Industry Is Evolving Dramatically

    Marathon Oil Completes Eagle Ford Acquisition

    Neptune Energy producing natural gas from Merakes project in Indonesia

    Fresh Gas Supply Need Is Created By Australian Energy Crisis

    Chevron Announces $15 Billion Capital and Exploratory Budget for 2022

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    Aramco announces second quarter and half-year 2021 results

    Aramco announces second quarter and half-year 2021 results

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WTO Reverses Much of Ruling in Indian Challenge to U.S. Steel Duties

Yuvraj_ong by Yuvraj_ong
December 8, 2014
in News
0

An appeals board of the World Trade Organization reversed much of an earlier ruling against the United States on Monday, but it said U.S. duties on Indian steel broke WTO rules and asked the United States to bring them into line with its regulation.

In one of the most complicated appeals decisions ever handled by the 19-year-old trade watchdog, the WTO’s Appellate Body reversed much of a ruling by a three-person panel in July, which said the U.S. duties had wrongly penalised India for subsidising steel exports by Tata Steel.

The case involved U.S. duties imposed because a portion of the iron ore used to produce Indian steel pipe came from India’s top iron ore miner NMDC, a state-run company that supplies steelmakers such as Tata and Essar.

A spokesman for the U.S. Trade Representative’s office said the vast majority of over 80 challenges in India’s appeal had been rejected but the overall appeal ruling was “mixed”.

“The findings help preserve the ability of the United States to address unfair subsidization by foreign governments” by using anti-subsidy tariffs to level the playing field for U.S. manufacturers and workers, the spokesman said.

An unnamed Indian official told Reuters when the case was launched in 2012 that the United States argued NMDC was selling the iron ore “for a song” and therefore implicitly subsidising a private-sector enterprise.

But the appeal ruling said the U.S. Department of Commerce had erred by saying NMDC was a “public body” under WTO rules. It also said U.S. law was wrong in the way that it allowed the U.S. International Trade Commission to assess the impact of dumped and subsidised imports.

Thomas J. Gibson, president and chief executive of the American Iron and Steel Institute, said in a statement that the WTO ruling had significantly weakened the effectiveness of U.S. trade law and would have ramifications beyond the Indian case.

“The WTO Appellate Body has once again created an obligation not agreed to by our trade negotiators, and this ruling will make it very difficult for domestic industries to obtain an effective remedy when facing both dumped and subsidized imports at the same time,” Gibson said.

“This ruling is very detrimental to steel businesses and workers who continue to battle a flood of dumped and subsidized imports coming into this country unfairly – and at record levels.”

 

Imports captured 30 percent of the U.S. steel market last month, he said.

The case arose after U.S. companies Allied Tube and Conduit, JMC Steel Group, Wheatland Tube and United States Steel Corp had petitioned the government in 2011 for import relief. (Reporting by Tom Miles; Editing by Robert Evans, Ralph Boulton)

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