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Nippon Steel declared it would sue President Joe Biden for his actions in approving the United States Steel and Nippon Steel merger.Follow the AG真人游戏 article below to update the latest information about the incident.Nippon Steel intends to acquire United States Steel for approximately $15 billionUnited States Steel and Nippon Steel merger deal turns sourUpon January 6, Nippon Steel Corporation elected to file a lawsuit against President Joe Biden. Specifically, Mr. Joe Biden prevented this organization from acquiring United States Steel of America for approximately $15 billion USD. As a consequence, the US President declared that the acquisition of United States Steel by Nippon Steel would jeopardize the nation's national security and critical supply chain. However, in response to Mr. Biden's decision, Nippon Steel and United States Steel declared that they would exert every effort to safeguard their legal rights. Nippon Steel and United States Steel will also argue in court that Mr. Biden's decision violated due process under the US Constitution and that he failed to present sufficient evidence to demonstrate that the agreement between the two companies would endanger US national security. Furthermore, this is the first instance in which a Japanese company's merger and acquisition deal has been thwarted by a US president.Nippon Steel justified its acquisition of United States Steel by asserting that it would facilitate the company's resumption of operations, despite its numerous challenges. Additionally, the authorization of the acquisition will ensure that American individuals will continue to hold management positions and serve on the board of directors of United States Steel, as Nippon Steel will invest more than $2.7 billion. Nippon Steel's objective is to elevate its annual production capacity from 65 million tonnes to 85 million tonnes on a global scale. If the merger with United States Steel is finalized, this objective will be entirely feasible.Outside Nippon Steel headquarters in TokyoWhat impact would a combination between United States Steel and Nippon Steel have on the world steel market?A merger between Nippon Steel and United States Steel might result in a multinational steel corporation with significant future effects on the steel sector. Expanding the global supply chain: With their respective worldwide production and distribution networks, Nippon Steel and United States Steel will be better equipped to satisfy demand from a wide range of geographical areas as a result of the merger. Stronger competition: Following the merger, Nippon Steel and United States Steel will be better equipped to compete with ArcelorMittal, Tata Steel, and POSCO, among other significant international rivals.Impact on steel prices: A significant portion of the steel market would be controlled by the merger of Nippon Steel and United States Steel, which might have an impact on steel pricing worldwide.Increase investment in green technology: Post-merger companies may need to invest more in clean technologies and lower carbon emissions due to the growing demand on environmental protection worldwide. This could alter the way steel is made and have an impact on the company's long-term strategy.Changing the structure of the steel industry: Since two of the biggest steel producers would unite to form a single organization that controls the global steel market, the merger of these two businesses might drastically alter the composition of the steel sector. The merger of Nippon Steel and United States Steel may alter the structure of the steel industryAll things considered, the combination of Nippon Steel with United States Steel might result in a strong steel corporation, but it would also bring about significant changes to the world economy and the steel sector. Even while it might have a lot of positive economic effects, there will be significant obstacles to upholding fair competition and safeguarding workers' rights.In the article above, AG真人游戏 has provided you with the most recent information regarding the merger between the United States and Nippon Steel. Stay informed about the most recent advancements in the steel industry by following us. If you have any inquiries, please do not hesitate to contact us

By the end of 2023, Vietnamese goods were the subject of many investigations related to trade remedies in major markets such as the Americas, Europe and Asia. In this article, AG真人游戏 Steel will review cases of investigation and application of trade defense against Vietnamese steel in Canada, Mexico, the EU and India.Vietnamese goods were the subject of many investigations trade defense from Canada, Mexico, the EU and IndiaCanadian marketRe-investigate with corrosion-resistant steel sheet (COR)On January 16, 2023, Canada conducted a re-investigation (administrative review) of the normal value and export price for corrosion-resistant steel from Turkey and Vietnam. On July 17, 2023, Canada announced the conclusion of the re-investigation, accordingly, basically keeping the old anti-dumping duty rate unchanged (2.3% - 71.1%) and adding new companies eligible for individual duties.The end-of-term review of anti-dumping and countervailing duties on cold rolled steelOn November 15, 2023, Canada announced the initiation of an end-of-term review of anti-dumping and countervailing duties on cold rolled steel from China, Korea and Vietnam. The case is under investigation and a conclusion is expected before April 12, 2024.Canada initiates review of anti-dumping duties on Vietnamese cold rolled steelMexican marketAnti-dumping investigation on galvanized steelOn August 31, 2021, Mexico initiated an anti-dumping investigation into galvanized steel imported from Vietnam. On September 14, 2022, Mexico issued a preliminary conclusion on the case, accordingly, the dumping margin of Vietnamese galvanized steel exporters ranges from 0% - 12.34%. On February 24, 2023, Mexico issued its final conclusion, accordingly, the dumping margin was reduced to from 0% - 10.84%. Mexico also assesses that there are no special market factors in the Vietnamese steel industry and uses the value provided by Vietnamese enterprises to calculate the margin.Mexico's anti-dumping investigation: Vietnamese galvanized steel exporters face margin reductions.Anti-dumping of cold-rolled steelOn July 28, 2022, Mexico initiated an anti-dumping investigation into cold rolled steel coils imported from Vietnam. On September 14, 2023, Mexico issued a preliminary conclusion, accordingly, based on the allegation of "special market situation" with Vietnamese cold rolled steel industry, Mexico used alternative values to calculate dumping margins of 12.77% - 81.06%. On December 28, 2023, UPCI issued the final conclusion, adjusting the dumping margin to 11.64% - 79.24%.EU marketAnti-dumping and countervailing duty investigations on cold-rolled stainless steel (SSCR)On August 14, 2023, the Ministry of Industry and Trade received information about the EU initiating two investigations on anti-dumping and countervailing duties on cold-rolled stainless steel products from Vietnam, Taiwan and Turkey Most major Vietnamese companies fully cooperated in the investigation. The Ministry of Industry and Trade also coordinated to provide information and data on time according to EU requests. The investigation is ongoing.The EU reviews the application of safeguard measures on certain steel productsOn June 2, 2023, the WTO Safeguards Committee announced that the EU would continue to extend the safeguard measures for another year (effective from July 1, 2023 to June 30, 2024). Vietnam is subject to a quarterly quota shared with other countries for certain steel products exported to the EU. The EU can conduct a review to continue extending the safeguard measure for a maximum of 2 years or terminate the measure.Indian marketAnti-Dumping Investigation on stainless steel welded pipesOn September 30, 2023, the General Department of Trade Defense (DGTR) announced the initiation of an anti-dumping investigation on stainless steel welded pipes imported from Thailand and Vietnam. The investigation is ongoing.DGTR launches anti-dumping probe on stainless steel welded pipes from Thailand and VietnamEnd-of-term review of countervailing duty on Welded Stainless Steel PipesOn September 30, 2023, DGTR announced the initiation of a end-of-term review of countervailing duty orders on welded stainless steel pipes from China and Vietnam. In this case, the Ministry of Industry and Trade coordinated with relevant agencies to submit responses to the Government's questions on time. The review is ongoing.The above information summarizes the trade defense investigations and measures applied to Vietnamese steel in Canada, Mexico, the EU and India. The Vietnamese Ministry of Industry and Trade continues to support businesses in responding to and appealing against trade defense measures to protect preferential tax rates. AG真人游戏 Steel owns a team of leading market research and export experts, helps importers access high-quality steel sources at the best prices. If you have any questions about importing Vietnamese steel, please contact us for the best support.