Nippon Steel has pledged not to import steel from its international mills to the U.S. as part of its $14.9 billion acquisition of the United States Steel Corp, according to Takahiro Mori, Executive Vice President.
However, the timing appears to be unfavorable as the U.S. Commerce Department increased tariffs on Nippon Steel. The department imposed a dumping margin of 29% on Nippon Steel for selling hot-rolled steel in the U.S. at below market value.
