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US manufacturers are willing to challenge the agreement with the Russian Federation

The difficult political situation between Russia and Ukraine largely affects trade agreements — in particular the US producers are close to that, to challenge the agreement with the Russian Federation regarding the supply of hot-rolled steel options. Concluded at the end of the Cold War, an agreement concerning the suspension of the anti-dumping proceedings, it has given Russian metallurgists to avoid considerable anti-dumping duties on hot-rolled products, limiting limit on imports and fairly low cost. By the way, US steelmakers believe that even after the revaluation in 2012 is too small. As a result — the steel manufacturers came to the idea of ​​the abolition of this kind of benefits or, at least, their adjustment. How to put a legal source familiar with the intricacies of the case, the US industrial companies take into account both the volume of imports entering and their own capabilities, in preparation for the termination or modification of the agreement, which plan to submit an application to the US government.

This measure is a reflection of concern about low world prices, shortage of supply and an excess of proposals for hot-rolled products used in the automotive sector and instrument. Oversupply affects other disputes — have in mind the recent conflict in the United States and resulted in the import of steel pipes for the oil and gas industry. In general, the situation which has arisen looks pretty alarming, given the fact that the Russian Federation is among the most significant suppliers of hot-rolled products. In the event that an agreement will be adjusted or broken, some US companies — Nucor Corp and United States Steel Corp, for example — will be able to benefit financially. In the event that an agreement in 1999 will be repealed, dumping the difference to «Severstal» will amount to 73.59%, for other Russian producers figure will rise to the level of 184.56%. The agreement was signed in order to control the incoming steel products from Russia, it is possible to cancel if there is a notification sent to 60 days. As for the adjustments they made through negotiations. Duties on products will be imposed immediately after the expiration of the agreement. Also, between the US and Russia at the moment of the arrangements regarding the import of hot rolled plate and Russian uranium.

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