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April 27, 2001
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Money > Business Headlines > Report April 27, 2001 |
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'US slaps notices on Essar, Ispat over dumping'The US Commerce Department on Friday slapped notices on several Indian firms, including Essar Steel and Ispat Industries, for allegedly dumping hot-rolled steel in the American market. A final determination on the steel 'dumping' cases is expected to be taken by the department in September this year, a notification from the department said. The department has, however, made preliminary calculations for the imported steel's dumping margin. It has accused firms from eleven countries, including India, China, Indonesia and South Africa, of indulging in this unfair trade practice. The department has also released the figures of additional charges made by Indian firms above the fair value price amounting to dumping -- Essar Steel 34.55 per cent, Ispat Industries 39.36 per cent and all others 34.75 per cent. The Bush administration has taken seriously the cases of dumping of steel products in the US market since it hurt the domestic industry which had backed his campaign in a big way. UNI YOU MAY ALSO WANT TO SEE:
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