U. S. Steel Welcomes ITC Action to Protect American Steel Industry

• Orders impose antidumping and countervailing duties on steel imports from ten countries
• Decision strengthens U. S. Steel’s product lines and future growth
• U. S. Steel CEO praises the Commission’s decisive action

PITTSBURGH--(BUSINESS WIRE)--U. S. Steel applauds the recent decision by the U.S. International Trade Commission (ITC). Today, the ITC voted 3-0 to impose antidumping and countervailing duty (AD/CVD) orders on U.S. imports of corrosion-resistant steel products (CORE) from ten countries: Australia, Brazil, Canada, Mexico, the Netherlands, South Africa, Taiwan, Turkey, United Arab Emirates, and Vietnam. The ITC found unfairly-traded CORE imports from these nations, amounting to $2.85 billion and 2.2 million metric tons of imports in 2023, materially injured the domestic CORE industry and its workforce. This crucial decision follows the U.S. Department of Commerce's recent determinations that CORE imports from all ten countries were unfairly dumped and subsidized. Consequently, importers are required to make cash deposits ranging from 6 to 421% of the import price on covered CORE.

A year ago, U. S. Steel, along with Nucor, Steel Dynamics, Wheeling-Nippon Steel, and the United Steelworkers (USW), spearheaded the largest steel trade case in nearly a decade. CORE products are integral to U. S. Steel's portfolio, featuring cutting-edge offerings such as COASTALUME™ steel, GALVALUME® coated steel, XG3™ generation 3 steel, and verdeX® sustainable steel, which play a vital role in sectors like automotive, appliance, construction, HVAC, solar, and others. These orders not only provide American industries critical relief from unfairly traded imports, but also provide crucial backing to U. S. Steel's expansion initiatives, especially in the ramp up of its new CORE lines at Big River Steel Works, reinforcing American-mined, melted and made steel.

David Burritt, President and CEO of U. S. Steel, commended the ITC's decision and emphasized the significance of robust U.S. trade enforcement: "Today's vote underscores the U.S. government's resolute stance in protecting American manufacturers and their workforce against the detrimental effects of unfair trade practices. We are appreciative of the U.S. International Trade Commission and U.S. Department of Commerce for championing the cause of our industry and workers."

About U. S. Steel

Founded in 1901, U. S. Steel delivers profitable and sustainable steel solutions. Propelled by its talented employees and an unwavering focus on safety, U. S. Steel serves the automotive, construction, appliance, energy, containers, and packaging industries with high value-added steel products. Steel production begins with our competitively advantaged iron ore production capabilities which fuel our integrated steelmaking facilities and investments in electric arc furnaces. To help our customers create the best products with the fewest emissions, we are committed to reaching net-zero greenhouse gas emissions by 2050. U. S. Steel is at the forefront of creating steels that are stronger, lighter, and better for the environment. This includes our proprietary XG3® advanced high-strength steel, verdeX® steel produced with 70-80% lower CO2 emissions with a recycled content of up to 90%, and ultra-thin lightweight InduX™ steel for electric vehicles, generators, and transformers. U. S. Steel maintains operations across the United States and in Central Europe and is headquartered in Pittsburgh, Pennsylvania. For more information, please visit www.ussteel.com and follow U. S. Steel on LinkedIn, Instagram, Facebook, and X.