Our policy on trade measures in the United States towards the growth of US Steel.
June 27, 2024
Nippon Steel Corporation
The purpose of the acquisition of United States Steel Corporation (US Steel) by Nippon Steel Corporation (Nippon Steel) is to support and grow US Steel in the United States. After the acquisition of US Steel, Nippon Steel will not prevent any request made by US Steel for trade measures based on US law, including anti-dumping duties/offset tariffs/emergency import restrictions related to trade issues by US Steel, even if it targets unfair imports from the country in which Nippon Steel conducts its business. This policy is consistent with Nippon Steel's purpose of acquiring US Steel and the commitments it has made to US Steel and its employees.
The partnership between Nippon Steel and US Steel is also consistent with Nippon Steel's global growth strategy to aim for a global crude steel production of 100 million tons. Nippon Steel and US Steel will work together to achieve their common goal of becoming the world's number one integrated steel manufacturer. To achieve this goal, Nippon Steel will invest at least 1.4 billion dollars in additional facilities and provide US Steel with access to Nippon Steel's advanced technology and research and development, allowing US Steel to deliver more advanced and environmentally friendly sustainable steel products to US customers and increase the competitiveness of US Steel in the US market. In the event that US Steel suffers damages due to unfair imports, Nippon Steel will use US trade measures to correct the situation in pursuit of their common goal.
Nippon Steel has always respected US laws that evaluate and correct the impact of imported products on the US domestic industry, and will continue to comply with US trade remedy laws in the future. Nippon Steel's basic policy regarding trade is as follows:
(1) Nippon Steel will supply high-quality steel products that meet customer needs in terms of quantity and quality, which local steel manufacturers in the region have difficulty responding to.
(2) Nippon Steel respects the trade remedy laws of each country and believes that each country has the right to implement trade measures, including anti-dumping duties/offset tariffs/emergency import restrictions based on domestic/international law, to achieve fair trade.