On March 19, 2018, the US International Trade Commission ruled that it had decided to terminate the 337 anti-monopoly investigations of the Chinese steel by the plaintiff, US Steel Company. The committee ruled that the plaintiff applying for an anti-monopoly investigation needs to have anti-monopoly damage, but the plaintiff cannot prove that it suffered, so he did not have the plaintiff qualifications for this case. At this point, the “337 investigations” of Chinese Steel were terminated. In the “337 investigations”, China won all three lawsuits about anti-monopoly, theft of trade secrets, and fictitious origin.
The United States Steel Corporation is the largest steel monopoly multinational corporation in the United States. It had controlled 65% of US steel production, and it had annexed more than 50 companies, relying on its strong economic strength to monopolize the US steel market and raw material sources. Headquartered in Pittsburgh.
China Baosteel Group issued a statement on April 29: As a fully-market-operated company, Baosteel strictly complies with laws and regulations in its daily operations, and this time the three allegations of the United States Steel Corporation were unfounded and it is completely inconsistent with the facts. Baosteel will safeguard the company’s legal rights in accordance with relevant international rules and laws.
After 20 months of painstaking efforts, the Chinese steel industry and steel enterprises have won the full victory in the 337 investigations against monopoly, theft of trade secrets, and fictional origin. The China Iron and Steel Association stated that it is very grateful for the united struggle of the entire industry, very grateful for the hard work of the team of lawyers, and very grateful to the community for their attention and support!